UK press: Travelodge to go in $1 bn sell-off
Private Equity Fund Of Funds Budget hotel group Travelodge could be about to change hands for 1 billion, it was reported in the UK press.
Viridian, the holding company for Northern Ireland's electricity, is in talks over a .62billion bid by Bahraini private equity firm Arcapita Bank.
Curve Equity Exposed Fund The Sunday Times said the chain's owner private equity firm Permira has met with potential advisers over the handling of a possible sale or flotation of the business.
Every two years I go to Colombia for business and stay at the Hotel Capital (no longer Forte Travelodge).
Equity Income Funds The sale would provide a multi-million pound windfall for Travelodge's management team, led by chairman Keith Hamill and chief executive Grant Hearn, the paper reports. Both own a significant portion of the shares.
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Capital Casebook Equity It is understood investment banks Citigroup, Deutsche Bank and UBS have all made a presentation to Permira. A decision on which will be given the role of adviser is expected in the next few weeks.
As well as the Britons who go abroad for cosmetic surgery or for operations to beat the NHS queues, some have dental treatment, ranging from root canal work to infills or denture fitting. Most go to the Continent, but a growing number travel farther afield, to countries such as India or South Africa. And the savings are huge. An operation in one of the cheaper destinations, such as the popular Apollo hospital in New Delhi, India, could be a fraction of the cost of the equivalent private treatment in the UK, even with flights and accommodation.
Private Investment In Public Hearn has previously stated his preference to lead a management buyout of the business with backing from another private-equity group.
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Equity Mutual Funds There is expected to be stiff competition for the business. Whitbread, which owns larger rival Premier Travel Inn, is likely to be interested and is thought to have already laid the groundwork for a possible bid.
Birmingham Contact Equity Permira paid 712 million in January 2003 to acquire Travelodge from Compass, the contract catering company. That acquisition also included Little Chef, the chain of roadside restaurants.
Private Equity Investment Firm Less than two years later, Permira recouped about 400 million from a sale-and-leaseback of 139 of its hotel properties.
Complying Deal Equity Funds It sold Travelodge Ireland business for 14.2 million.
Equity Msn Private Wyoming Last year, it sold Little Chef for 52 million to Lawrence Wooskow and Simon Heath, the catering entrepreneurs, after closing a number of its underperforming restaurant sites.
American Equity Investment Travelodge has 17,500 bedrooms across 291 hotels.
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