Travelodge has confirmed that its Lancaster Central site will be shutting down its premises permanently. They will be keen to see if lenders will also have to take payment cuts and how much the owners will be paid in interest from the new proposed debt. © 2021 BBC. "The tenants are multi-billion-dollar offshore hedge funds and the landlords are, for example, pensioners.". Once the CVA offer has been published he will consult with his group, he said. Shareholders have pledged to inject up to £40m in new equity into the business, and to raise £100m in new debt as part of a turnaround plan. Travelodge has opened two new hotels in London, boosting its portfolio of hotels in the capital to 77. "This is very much the opposite of the usual tenant-landlord conundrum," said Viv Watts, a landlord of two Travelodge hotels. view more headlines. Live Travelodge': news and developments with the latest updates. Please do not cancel your booking. He says his group questions why rents should be cut for next year when no-one can say whether UK travel will have picked up by then. However, the company is not planning hotel closures, and has said it will start paying full rent again from the end of next year. The company's owners will use Travelodge's £100m of reserves, £100m in new borrowings and £40m in fresh cash to prop up the firm. "Dorset Police was called at 8.01am on Wednesday 9 December 2020 to a report that a woman, aged in her 20s, had very sadly been found deceased at the Travelodge hotel in Christchurch Road. Travelodge Protect+ Our number one priority is the safety and security of our customers and teams. Travelodge, whose backers include Goldman Sachs, has refused to pay rent in the three months to end-March. Capitol riots: Who has the FBI arrested so far? Thame and London Ltd, which is the UK-based holding company for Travelodge, made tax payments of about £700,000 for 2018, and nothing for 2012-17, according to its accounts. "They are pushing this agenda of discounts in 2021 when they have no basis for doing that.". TravelodgeProtect+ is our programme of cleaning and social distancing measures to keep everyone safe. 03.06.2020. March 24, 2020. Video. Who's behind the recent killings in Iraq? Travelodge to reopen a further 100 hotels this week. 1 comment. It is owned by Luxembourg-based Anchor Holdings and its investors include US funds GoldenTree and Avenue Capital, as well as Goldman Sachs. The BBC is not responsible for the content of external sites. At least 10 councils are part of his group. See photos images. Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise. Home; News; Travelodge chief executive Peter Gowers to step down; share . 1 / 1. Holocaust Memorial Day 2021: 'It's sad when I sit there alone' Video, Holocaust Memorial Day 2021: 'It's sad when I sit there alone', Juno actor Elliot Page to divorce Emma Portner, Arrivals from Covid hotspots face hotel quarantine. Today we are told that a CVA is to be unveiled which includes a new commitment from shareholders to inject up to £40m of new equity. The borrowing capacity has been increased to £100m, compared to the £60m initial amount. Read about our approach to external linking. In an update to customers on Travelodge's dedicated coronavirus help page on Monday, November 2, the hotel firm said: "Further to the Government announcement imposing new national restrictions in England from Thursday 5th November we are working through the detailed information and will be in contact with all customers with affected bookings. Britons are opting for ‘minications’ in the UK, taking more frequent and shorter breaks this year, according to new research…, Travelodge has revealed it is accelerating its hotel reopening programme by reopening a further 100 hotels this week and will…, Property tycoon Nick Leslau’s Secure Income has revealed it has begun to take action against Travelodge owner Goldman Sachs after…. VideoWho's behind the recent killings in Iraq? Travelodge is due to file for a limited form of bankruptcy - a company voluntary arrangement - on Wednesday that would allow it to force through rent cuts if necessary. Budget hotel chain Travelodge has announced plans to expand its Scottish network with a further 20 hotels.. Travelodge celebrate six new hotel openings in 2020 Travelodge has announced it is to open six hotels before the end of 2020 representing investment value of £45 million and the creation of 135 new hospitality jobs. Check out current Travelodge': news stories and find out what happened, what is going on with Travelodge':. Holocaust Memorial Day 2021: 'It's sad when I sit there alone' VideoHolocaust Memorial Day 2021: 'It's sad when I sit there alone', The child environmentalist receiving death threats, Gymnast's 'black excellence' routine goes viral1, AstraZeneca-EU row escalates over vaccine shortage2, Juno actor Elliot Page to divorce Emma Portner3, Biden to halt new drilling on federal lands4, Why convicting Trump just got a lot harder5, Arrivals from Covid hotspots face hotel quarantine6, When your 'pandemic puppy' doesn't work out7, Capitol riots: Who has the FBI arrested so far?8, Dave Grohl: 'I dreamt I was shot in the back'9, Trapped Chinese miners saved after knocking on pipe10. "They need that income," he said. Skip to next photo. It may be more attractive to operate and manage the hotels themselves, he said, as all they need is a booking system and a brand. Posted 11 m minutes ago Wed Wednesday 26 Aug August 2020 at … Travelodge announce Black Friday deals with savings of up to 30% ... Neil Bennett. We've put together all the details from the two hotel chains. 12:02, 20 NOV 2020; What's On. Premier Inn and Travelodge have revealed where they plan to open new hotels across in the UK in the coming months. The new hotel openings by Travelodge will increase company’s portfolio to 595 hotels in the UK, Ireland and Spain. By Emily Liddell @em_liddell Reporter. All Covid-19 News can be seen here. News Siberian Husky among bizarre things left at Travelodge in 2020 By Jim Scott jimscottjourno Digital Content Editor/Reporter By Paige Cockburn. Budget hotel chain, Travelodge, has opened its first hotel in Rochester marking the second of its three hotels opening in…. Travelodge's latest sale includes rooms from £7.25pp which includes stays across both 2020 and 2021 Mum's horror over 'skin crawling' stain on duvet at Travelodge hotel Travelodge Travelodge has been in negotiations with its landlords to secure a waiver of rent, up to £146 million according to the Financial Times. Read about our approach to external linking. But landlords will only receive a fraction of the rent they are owed until the end of 2021. Travelodge proposes new deal to end landlord row - BBC News Budget hotel chain Travelodge has celebrated 20 years of trading in Kent by opening its first hotel in Sittingbourne. Travelodge chief executive Peter Gowers is stepping down from his role at the end of the year to "move onto a new challenge". "We've come to them with a very fair and logical proposal," Mr Watts said. Hotel Owner is the premier B2B digital and print magazine in the UK, keeping you informed on all things in the hotel industry. A Spelthorne council housing worker tweeted: “Travelodge gave us four hours’ notice to find alternative accommodation for our … Recent news updates about Travelodge': AstraZeneca-EU row escalates over vaccine shortage, Gymnast's 'black excellence' routine goes viral, The homeless addict who became a professor, Why convicting Trump just got a lot harder, When your 'pandemic puppy' doesn't work out, Dave Grohl: 'I dreamt I was shot in the back', The comic in jail for jokes he didn't crack, A raccoon, pony and other White House pets. Travelodge chief executive Peter Gowers to step down. Trapped Chinese miners saved after knocking on pipe. Budget hotel brand Travelodge has opened a new 70-bedroom hotel in Gosport, Hampshire. Read the latest news, stories and developments with Travelodge Hotels here at Hotel Owner. We cover the entire industry, and cover the freshest, most relevant news. Budget hotel chain Travelodge have revealed the most bizarre requests received by staff over the past 12 months. Show caption 1 / 1. 19 Jan 15:36. What's On . 27 November 2020 by Katherine Price . Aug - 2020 - 27 August. A Travelodge sign. The new Travelodge, off St Peters' Way in Mansfield town centre. Hotel scheme 'will cut rough sleeping after virus', Travelodge targets parents for Brexit gap, Biden to halt new drilling on federal lands. The company wants landlords to agree £144m of temporary rent cuts on its 564 sites in return for fresh investment. UK hotel group Travelodge is owned by Anchor Holdings based in Luxembourg, major investors are US investment banks and offshore hedge funds. NewsNow aims to be the world's most accurate and comprehensive aggregator of Travelodge news, covering the latest on the independent hotel brand from the best online news publications. Hotel Brands. 17 Dec 2020, 1:11 Updated : 17 Dec 2020, 1:34 A HOTEL receptionist was battered to death with a blunt instrument as she worked a night shift at a Travelodge, an inquest heard. Budget hotel business Travelodge is to propose a new restructuring plan that it hopes will end a row with landlords and protect thousands of jobs. He points to the firm's recent profitability - it booked £129m of earnings in 2019 - as reason to question why they need such a long and deep rent holiday. Accounts for 2019 are yet to be filed. Our new look standard rooms feature contemporary décor, new blackout curtains and signature king size Travelodge Dreamer™ bed for a restful night’s sleep, a 32″ Samsung Freeview TV and plenty of power throughout with desk and bedside USB charging points. He leads the Travelodge Owners Action Group, whose members own nearly 400 sites. What's On News. But landlords accuse the hotel chain of taking advantage of the virus pandemic to cut its debts at their expense. Forgetful guests at the budget hotel chain checked out without taking a whole array of weird, wonderful and sometimes very valuable items. Just last month, Travelodge hit the news for looking at a CVA again. Founded in 1985, Travelodge has 589 hotels, most in the United Kingdom, and underwent its first CVA in 2013 after the Great Recession. Copyright © 2021 Mulberry Publications Ltd. All right reserved. Many of his group's members are also pension funds and local authorities, he said. By Oliver Gill 3 June 2020 • 12:01am Travelodge will launch a radical overhaul of its business on Wednesday in a bid to force landlords to swallow rent cuts of more than £140m. Items left in Southampton Travelodge rooms throughout 2020. A set of false teeth, a magician's hat and a life-size cardboard of Sean Connery were among the "bizarre left behinds" at Travelodge's hotels in 2020. Posted 1 h hour ago Tue Tuesday 25 Aug August 2020 at 8:17am, updated 16 m minutes ago Tue Tuesday 25 Aug August 2020 at 9:28am Police found the Travelodge … A builder who used a digger to destroy the entrance of a Travelodge hotel in Liverpool over a pay dispute…. Oil and gas extraction will be paused and wind energy will expand under Joe Biden's climate plan. Travelodge has bowed to landlord pressure and amended key terms of its financial restructuring, Sky News learns. Some 15 fire engines and around 100 firefighters were deployed to tackle a fire which broke at a Travelodge hotel…. Like most hotels, Travelodge has suffered amid the coronavirus lockdown as holidays, events and business trips are cancelled. Travelodge News. Who's behind the recent killings in Iraq? Britons are opting for ‘minications’ in the UK, taking more frequent and shorter breaks this year, according to new research… Read More » Jul - 2020 - 13 July. The latest breaking news, comment and features from The Independent. Find out more Introducing our NEW Best Price Finder With our new BEST PRICE FINDER you can find our cheapest prices at a glance. Who's behind the recent killings in Iraq? SuperRooms™ Our SuperRooms™ offer all the features of our standard rooms, with added comforts. Travelodge is arguing that it will lose £350m in sales due to the lockdown and that 10,000 jobs are at stake. Viv Watts, managing partner of Oasis Holding and who owns two Travelodge properties, set up the Travelodge Owners Action Group after Travelodge announced its desire for a second CVA in early 2020. Travelodge has previously been vocal in its view that the new hotel will provide a £2 million "annual boost" to Mansfield's economy . Bizarre customer requests at Travelodge 2020 Travelodge (Press Release) 02:44 25-Dec-20. At the heart of the city centre, the hotel was made good use of both parents of students and tourists who wished to visit the city and spend the night. Sydney Travelodge hotel dumped from COVID-19 quarantine program after police saw photos of rooms . His group of landlords offered the company zero rent for April, May and June, followed by a 20% discount for the rest of 2020. Posted at 15:17 3 Jun 2020 15:17 3 Jun 2020 Travelodge proposes new deal to end landlord row The company says temporary rent cuts and new investment will protect thousands of jobs. Coronavirus: Travelodge sweetens landlord deal to seal crunch vote. 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The proposal will also include a share of profits above £200m, once business recovers. Travelodge Owners Action Group is now pointing at £129m of earnings in 2019 for Travelodge, and accusing them of paying the UK government no tax on profits between 2012-17. Economy ‘Minications’ give UK economy £24bn boost. Most are getting more than 50% of what they are owed, but for 37 lossmaking hotels they are paying no rent. The company sold much of its estate 16 years ago and now rents the sites. He also pointed to how much tax it pays. Many landlords have also borrowed against their properties and have loans to pay off, making steep rental reductions hard to agree to. New deal to seal crunch vote photos of rooms 564 sites in return fresh.: news stories and find out more Introducing our new Best Price Finder you can find our prices!: news stories and find out more Introducing our new Best Price Finder you can find our cheapest prices a... 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