Travelodge UK PropCo Group closes the acquisition of 66 Travelodge-branded hotels from Travelodge’s largest landlord – LXi REIT

Travelodge PropCo Group, a leading budget hotel brand in the UK with nearly 600 establishments, has successfully concluded the acquisition of 66 Travelodge-branded hotels from LXi REIT plc, the largest landlord of Travelodge. This property acquisition, previously announced on January 8, 2024, has been finalized by a newly established entity known as Travelodge PropCo Group.

The transaction, valued at £210 million, involves the acquisition of hotels on both freehold and long leasehold terms. Travelodge PropCo Group operates independently but in conjunction with Travelodge PropCo Group, under the auspices of a newly formed parent company, T&L Holdco Limited.