Potential buyers said to be lining up for Travelodge
A £1bn takeover could be on the cards for low-cost hotel company Travelodge, it was reported over the weekend.
The budget accommodation provider, which was put on the market earlier this year, has attracted attention from a number of private equity firms, including Advent International, sources told the Sunday Times.
The firm is believed to have held discussions with Travelodge's owners - Avenue Capital, Goldman Sachs and GoldenTree Asset Management - and their advisers.
It had previously been widely reported that a listing on the stock market was also being considered as a possibility for the chain.
Travelodge's chief executive has previously said that the owners were "not natural long-term holders" of the business, having acquired it three years ago with the aim of restructuring its debts and invested millions following its near collapse in 2012.
Their efforts resulted in underlying earnings of £66.2m in 2014.