Major hotel deal by Yorkshire legal team

THE biggest hotel deal for two years has been completed with the help of a Yorkshire legal team.

Travelodge has completed the acquisition of 52 Innkeeper’s Lodges from the restaurant and pub operator Mitchells and Butlers. Travelodge was advised on the deal by lawyers from the Leeds office of Addleshaw Goddard.

A 25 year lease has been signed by Travelodge on the properties and the firm will now spend £10m converting them to the Travelodge brand.

Addleshaw Goddard corporate partner Yunus Seedat said: “We have been a trusted adviser for Travelodge for several years, and this deal highlights their particularly strong position coming out of the recession.

“It is certainly one of the biggest deals that the hotel sector has seen for some time, and a very positive indicator for all moving forward.”

The Addleshaw team was led by Mr Seedat and fellow corporate partner Clare Thomas with managing associate Mike Lee.

Travelodge’s executive chairman Grant Hearn said: “This innovative deal represents the whole of last year’s growth in one move and highlights Travelodge’s excellent position coming out of the recession.

“We have an aggressive growth plan in place and with this acquisition we are on track to more than double the size of Travelodge hotels over the next ten years. We hope to explore further opportunities like this deal with other similar businesses.”