Travelodge has leased the former Holiday Inn Express hotel at Liverpool John Lennon Airport from Peel Land and Property Group. Following the off-market sale, the 100-guestroom hotel is now the Travelodge Liverpool John Lennon Airport.
The company's 549th hotel is also the group's 10th property in Merseyside. The property is located next to the airport and Speke Retail Park.
Peel, the previous owner and operator of the Holiday Inn Express under a franchise agreement, has granted a new 25-year lease to THL and paid a contribution to Travelodge to rebrand the hotel under the Travelodge brand. Peel Land and Property has also sold its freehold interest in the property to a private investor.
This investment includes upgrading all guestrooms with the company's design and the Bar Café. The hotel will operate as normal during the refurbishment, which is expected to be completed by the end of this year.
“The local economy is growing significantly, with increasing visitor numbers to the area, and there is a real lack of good quality accommodation at a great value price,” Tony O Brien, Travelodge PD said in a statement.
Travelodge was advised by Richard Servidei at JLL. Peel Land and Property Group was represented by Prime Retail.
Between June and September, Travelodge invested in ten hotels in the UK, including this new property at Liverpool John Lennon Airport in Speke. The other nine are in Lytham St Annes, Chester-le-Street, Cumbernauld, London Southwark, Redruth, Ipswich-Beacon Hill, Liverpool-Exchange Street, Newport, Gwent and Swindon. The 61-guestroom Lytham St Annes property and the 202-guestroom London Southwark property are also leased by THL.