Travelodge to be put up for sale by GoldenTree with £1.2bn price tag

Travelodge is to be put up for sale with a price tag of more than £1bn as the owner of the budget hotel chain seeks to cash in on a post-pandemic boom in demand.

GoldenTree, the US hedge fund that took over Travelodge in 2012, has held meetings with investment banks to explore a potential sale of the chain of 595 hotels.

The move comes after Travelodge’s other two backers – the New York-based hedge funds Avenue Capital and Goldman Sachs – recently sold their stakes in the business to…