Travelodge in the red amid Reeves’ £21m tax hikes hospitality Travelodge has fallen to a loss during the first three months of its financial year as it battles the tax hikes announced by Chancellor Rachel Reeves in her Autumn Budget which will cost the hotel chain more than £20m this year. The company confirmed last year that the rise in the National Living Wage will cost [...]
Travelodge turns to robot vacuums amid budget hotel chain facing £21m costs hike Business Travelodge has revealed it is facing a £21m hike in costs in 2025 following Chancellor Rachel Reeves’ Budget. The budget hotel group has warned it will see the increase because of the combined impact of another minimum wage hike in April as well as a higher rate of employer national insurance set to push up [...]
Abrdn trust to strike £350m deal with Travelodge owner Investing Abrdn Property Income fund is in “advanced discussions” to sell almost all of its portfolio to fund managed by Travelodge owner, Goldentree Asset Management. The £227m investment trust saw a bid from Custodian Property Income REIT voted down earlier this year, leaving the trust to begin winding down. Only 60.8 per cent of Abrdn shareholders [...]
Travelodge owner leads secret group behind Cineworld restructuring September 1, 2024 Goldentree, the Wall Street hedge fund behind Travelodge, is leading a contentious overhaul of Cineworld that could leave UK ratepayers facing large losses. Cineworld, which collapsed into administration last year with £4bn in debt, has since fallen under the control of a covert group of hedge funds. This consortium is led by Goldentree and includes [...]
Travelodge owner looks to buy £40m of landlord hotels amid sale speculation April 28, 2024 The owners of Travelodge are reportedly mulling buying £40m of hotels from their landlords, fuelling speculation the business could be sold.