Collette is now offering an exclusive Fall Flash presale for travel advisors.
25.08.2023 - 13:27 / skift.com / Sean Oneill
Travelodge, a UK-based budget hotel operator, could change ownership in a potentially billion-plus-dollar deal that would cash in on surging hotel bookings after the pandemic, according to two media reports Saturday.
U.S. hedge fund GoldenTree Asset Management, which has control of Travelodge, was said to be valuing the company at about $1.5 billion (£1.2 billion), according to The Times (of London).
The privately held Travelodge, led by CEO Jo Boydell, revealed last month that its 2022 revenues were about $1.1 billion (£909.9 million) — or about 25% higher than its pre-pandemic performance in 2019.
It’s not the first time GoldenTree Asset Management has sought a sale. Back in 2015, there were reports that Travelodge was in play, but no deal materialized.
The budget chain of 595 hotels leases its properties. That may make it unattractive as a target for the major global hotel groups, which have been moving toward the asset-light model over the decades. In theory, a new owner could split the assets from the Travelodge operating business and brand, making it more similar to companies such as Marriott and IHG (InterContinental Hotels Group), whose properties are owned by third parties while the groups act as management companies and brand developers.
Regulatory authorities might balk at larger UK-based budget rival Premier Inn making a bid for its smaller rival.
Last month Travelodge said it aimed to open 300 more properties across the UK in the coming years.
Collette is now offering an exclusive Fall Flash presale for travel advisors.
In commemoration of the 20th anniversary of the 2004 Lake Hamana Flower Expo, which attracted over 5 million visitors, Lake Hamana Flower Expo 2024 is set to take place next spring with tickets now on sale. Set against the stunning backdrop of Lake Hamana, the colourful event will take place for almost two months at two venues: Hamamatsu Flower Park from March 23rd to June 16th and Hamanako Garden Park from April 6th to June 2nd. Visitors will be able to enjoy stunning gardens such as the ‘Cherry Blossom and Tulip Garden’, one of the most beautiful in the world, as well as those designed by world-famous garden designers including Kazuyuki Ishihara, who to date has won 12 gold medals at the Chelsea Flower Show and has been praised by the late Queen Elizabeth as ‘the gardening magician’. Additionally, new gardens are being exclusively designed for the expo alongside cutting-edge attractions including interactive digital installations and Japan’s largest nighttime projection mapping.
A woman found the missing Chihuahua, who was lost for three weeks after being separated from her owner at Hartsfield-Jackson Atlanta International Airport, on Saturday.
The Marriott-controlled ultra-luxury superyacht brand The Ritz-Carlton Yacht Collection would like to raise as much as $400 million to add two superyachts to its current three, Bloomberg News reported on Wednesday.
Timesharing, as a concept, was conceived in Europe in the 1960s. There, it was originally presented as a contractual lodging arrangement featuring the right to make reservations in multiple properties owned by the offeror or even by third parties. The first timeshare in the United States was started in 1974 by Caribbean International Corporation (CIC), based in Fort Lauderdale, Florida. It offered what it called a 25-year vacation license rather than ownership. The company owned two other resorts the vacation license holder could alternate their vacation weeks with: one in St. Croix and one in St. Thomas; both in the U.S. Virgin Islands. The Virgin Islands properties began their timeshare sales in 1973.
To help launch its new service to the island of Barbados and to LAX, Cayman Airways is having a sale.
It has been a very eventful summer and we're all sad to see it go. As we soak up these final days in the sun, endless deals from some of our favorite travel-friendly brands are here to help you prepare for pumpkin spice season. Labor Day sales are in full swing and that means steep discounts on fall-ready clothing, new footwear, outdoor gear, beauty products, and more. We've rounded up all the travel-friendly deals worth shopping below, whether you're looking to refresh your fall wardrobe, prep for autumn camping trips, or restock your skincare essentials. There are plenty of deals to shop now through the weekend—and some even running through mid-September. Below, find the 61 best Labor Day sales from Everlane, Samsonite, REI, Ulta, and more.
More than $30 million committed to help unlock paths to hotel ownership.
This program has placed more than 600,000 seats on sale for city break destinations throughout Europe, marking a capacity growth of 10% in comparison to the Winter 23/24 season.
Fosun International Ltd. is pondering whether to sell French luxury resort chain Club Med as it’s looking to ways to reduce debts, according to a report in Bloomberg.
Good morning from Skift. It’s Tuesday, November 22. Here’s what you need to know about the business of travel today.
Andreas Scriven is the lead partner for the hospitality and leisure practice at Deloitte UK and Deloitte NS Europe. Scriven has an interesting perspective on European hotel deals and development.