Australia and New Zealand Travelodge brand for sale with Tucker Box Hotel Trust
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Australia and New Zealand Travelodge brand for sale with Tucker Box Hotel Trust
The Expressions of Interest campaign for largest hotel portfolio ever to be offered to market has just over a month to run, with McVay Property and Credit Suisse managing the process.
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Travelodge AustraliaTravelodge Newcastle
More than 2,000 rooms across 11 Hotels have hit the market as part of the Tucker Box Hotel Trust sale.
Jointly owned by Mirvac and NRMA, the includes ownership of the Travelodge Hotels brand in Australia and New Zealand, with 81 per cent of the rooms located in Sydney and Melbourne.
All properties are currently leased and managed by Value Lodging Pty Limited, a subsidiary of Toga Far East Hotels and also have the option for vacant possession upon sale. TFE Hotels will still retain their exclusive licence to use the brand in Australia and NZ.
Travelodge Wynyard. Source: Travelodge Australia
Travelodge properties available - At a glance:
- Travelodge Hotel Sydney Martin Place
- Travelodge Hotel Sydney
- Travelodge Hotel Sydney Wynyard
- Travelodge Hotel Manly Warringah Sydney
- Travelodge Hotel Macquarie North Ryde
- Travelodge Hotel Blacktown Sydney
- Travelodge Hotel Bankstown Sydney
- Travelodge Hotel Newcastle (there was a typo in Travelodge)
- Travelodge Hotel Garden City Brisbane
- Travelodge Hotel Melbourne Southbank
- Travelodge Hotel Perth
Source: McVay Real Estate
McVay Real Estate and Credit Suisse to manage the Expressions of Interest campaign, which closes on Thursday, November 19 at 4pm.
In a statement, NRMA and Mirvac said the sales campaign followed a number of unsolicited offers for the trust.
Travelodge Manly Warringah. Source: Travelodge Australia
"Given the expected demand for affordableaccommodation and the forecast improvement in domestic travel, both NRMA and Mirvac have elected to commence a process to explore the interest in this portfolio from both domestic and international investors and operators given the prime locations, weighting toward the attractive Sydney market and scale of the platform," they said.
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