Travelodge PropCo Group Closes the Acquisition of 66 Travelodge-branded Hotels from LXi REIT for £210 Million

The 66 hotels were acquired on a freehold and long leasehold basis enabling the Travelodge group to take control of the assets

Travelodge OpCo Group, the UK’s first budget hotel brand which operates nearly 600 hotels, today announces the completion of the property acquisition as anticipated in the announcement of the agreement on 8 January 2024.

A newly formed property holding group (Travelodge PropCo Group) completed the acquisition of 66 Travelodge-branded hotels on a freehold and long leasehold basis from Travelodge’s largest landlord, LXi REIT plc, for a purchase price of £210 million.

Travelodge PropCo Group is held separately, but alongside Travelodge OpCo Group, by a newly formed direct parent of Thame and London Limited (T&L Holdco Limited).