Travelodge has retained a community of 578 resorts following an acrimonious firm voluntary association cope with homeowners.
The model stated the remaining resorts accounted for greater than 98 per of its 2019 UK resort EBITDA.
Steve Bennett, Travelodge property director, stated: “Whereas the Covid-19 state of affairs has created unprecedented challenges for the entire UK hospitality business, we have now labored intently with our landlords to attempt to discover the very best path ahead.
“With the overwhelming assist and dedication of so many landlords throughout the nation, we now have a robust, diversified and properly invested community that leaves us properly positioned for the restoration.
“The group wish to thank its landlords for his or her overwhelming assist and can proceed to work intently with all its stakeholders over the months forward.”
The voluntary association included a break clause permitting landlords to terminate leases and re-let the resorts with out penalty with an preliminary deadline of November 18th.
With the deadline now handed, fears an exodus of tons of of landlords have proved unfounded.
AGO Resorts secured 9 Travelodge leases and Premier Inn proprietor Whitbread took up two additional properties.
The low-cost model had a portfolio of 590 resorts within the UK, Spain and Eire at the beginning of the 12 months.
This community now constitutes 563 resorts within the mainland UK, ten properties in Eire and Northern Eire and 5 resorts in Spain.
It additionally consists of 9 new resorts opened within the 12 months thus far.
