Travelodge launches fund for distressed acquisitions in U.K.

06/25/2009 | BusinessTravelNews.com

With signs of an improving hotel market emerging in the United Kingdom, hotel chain Travelodge has teamed up with real estate fund Meghraj to launch a $164 million fund to acquire distressed hotels, mainly in midprice tiers. Travelodge has already acquired 13 hotels in the past 15 months, and through the fund, called Tamesis Capital, the chain is expected to pick up a further eight to 14 hotels.

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