The owners of major UK amusement parks Alton Towers and Thorpe Park has bought a portfolio of 55 Travelodge hotels.
Secure Income REIT, a property investment company that has the two big parks under its control, has placed 46.9m shares on the market and used the revenue to part-fund the acquisition of the hotels, all of which are in the UK.
The deal was worth £196.2m.
Travelodge is the UK’s second-biggest budget hotel brand and will now rent back the hotels from Secure Income at £13.7m a year. Secure Income bought the two big theme parks in 2007 from Merlin Entertainments.
