Travelodge Takes $15.8 Million Emergency Loan, Times Reports
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Travelodge Ltd. took a 10 million pound ($15.8 million) emergency bank loan ahead of talks with its lenders, the Sunday Times of London reported, citing unidentified bankers and people familiar with the matter.
The hotel operator, which runs 470 hotels in Britain, Ireland and Spain, has 850 million pounds of borrowings and paid 99 million pounds of interest last year, the newspaper said. A Travelodge spokesman declined to comment when contacted by Bloomberg News.