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LXi REIT PLC on Monday said that it had exchanged contracts for the sale of several Travelodge-branded hotels, the proceeds of which will be used to help the company s debt position.
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Article - Travelodge Agrees to Acquire 66 Travelodge-branded Hotels £210 Million - Travelodge, the UK s first budget hotel brand which operates nearly 600 hotels, today announces that it has exchanged contracts to acquire 66 Travelodge-branded hotels on a freehold and long leasehold basis from its largest landlord, LXi REIT plc, for a combined sum of £210 million.