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man o' the year

Hotels collapse

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I’m actually sad to hear about Travelodge..  they invested a lot in their hotels recently (as opposed to the usual buy something and run it into the ground crowd).

I guess it was unfortunate timing to invest heavily in your infrastructure just before something like Covid knocks out the entire market.  

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20 minutes ago, man o' the year said:

The over leveraged "take the money and run" operators now beginning to be exposed :

Travelodge administration

Ston Easton Park

 

 

No, it's the landlords who were exposed. Travelodge have gamed them and cut their rent

"The directors of Travelodge would like to thank its creditors for their support during this period and look forward to re-opening and welcoming guests back to its hotels in the near future.”

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6 minutes ago, Libspero said:

I’m actually sad to hear about Travelodge..  they invested a lot in their hotels recently (as opposed to the usual buy something and run it into the ground crowd).

I guess it was unfortunate timing to invest heavily in your infrastructure just before something like Covid knocks out the entire market.  

Yes good biz Travelodge. Think it will be fine 

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29 minutes ago, man o' the year said:

The over leveraged "take the money and run" operators now beginning to be exposed :

Travelodge administration

Ston Easton Park

 

 

The new hotel is as confusing, as its inconsistent, as its financialised, as its fucked.

Hotel operators take on a lease from small investors, who build a hotel to the operators spec.

The operator brand it and run bookings, skimming the cc transaction. 

I think the owner staff n run ig.

Its mental.

There isn't the margin yo have every layer taking a profit.

 

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1 hour ago, Libspero said:

I’m actually sad to hear about Travelodge..  they invested a lot in their hotels recently (as opposed to the usual buy something and run it into the ground crowd).

I guess it was unfortunate timing to invest heavily in your infrastructure just before something like Covid knocks out the entire market.  

James Caan of Dragons Den bought Ston Easton from the infamous Andrew Davis (Von Essen) with a venture partnership. Not sure of they still owned.

TravelLodge were too late reacting to the massive increase in competition at the budget end of the market with many doing what they did both batter and cheaper.

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12 minutes ago, man o' the year said:

James Caan of Dragons Den bought Ston Easton from the infamous Andrew Davis (Von Essen) with a venture partnership. Not sure of they still owned.

TravelLodge were too late reacting to the massive increase in competition at the budget end of the market with many doing what they did both batter and cheaper.

I had a very vociferous argument with the manager of Ston Easton a few years ago.

Utter cunt, he was.

But I won.

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Posted (edited)

If a hotel operator goes bust, and the main creditor is the landowner, I would imagine the landowner gets to own the infrastructure by default. Other credidors might have some claim but the landowners could make the building effectively worthless to any other claimant.

So the hotel iteself would be there, ready and waiting for another operator to come along and rent it.

Could be a big gain for the landlords.

Edited by Happy Renting

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9 hours ago, man o' the year said:

I don't think anyone rushing in to buy hotels at moment. One of interest to us now 50% discounted from original asking price.

I think they’ll take a long view and will get very cheap if buying from administration... 

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1 hour ago, SomersetMatt said:

I think they’ll take a long view and will get very cheap if buying from administration... 

The business will pick up.

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