Search
 

Dubai Investor Scores Travelodge Brand

DUBAI-Dubai International Capital pays $1.3 billion to buy Travelodge Hotels. The UK chain plans to be the country's biggest budget hotel chain by the 2012 Olympic Games.

By Anita Howarth | Updated on August 22, 2006

DUBAI-Dubai International Capital, the investment arm of Dubai Holdings, has agreed to buy UK-based Travelodge Hotels from Permira for euro 1 billion ($1.3 billion). Already there is speculation that the new buyers will look to launch an IPO or sell the chain within the next three years. Travelodge is Britain’s second-largest budget hotel company with 291 assets–279 in Britain, nine in Ireland and three in Spain.

Dubai chief executive Sameer Al Ansari says Travelodge was a strong brand with growth potential. “The budget hotel sector is growing and, in our view, is underdeveloped in the UK market,” he states. Travelodge aims to be the biggest budget operator in London by the 2012 Olympics, with more than 7,000 rooms in the British capital.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.