Verslag Mobiele Horecatraining 2010
Budget hotel chain Travelodge has dropped out of the bidding for Premier Lodge. Its decision to withdraw leaves a clear run for others to snap up the 132-strong hotel and restaurant chain, which could be sold for as much as £600m.
The front-runners are thought to be Whitbread, owner of Travel Inn, along with Japanese bank Nomura and private equity group Apax Partners.Some reports have suggested Sun Capital, an investment firm controlled by Hugh Osmond, founder of Spirit Group, may be the fourth shortlisted bidder.
Premier Lodge was put up sale in February by Spirit, which inherited it as part of its £2.5b acquisition of Scottish & Newcastle Retail last November.Travelodge, which is owned by Permira, declined to comment officially on the auction, but did confirm it had pulled out of the process.
Despite this, there has been speculation in the City that Travelodge could yet return to the fray if prospective bidders try to force the price down.