Travelodge (UK)

1985

Private

Status: Performing

All payments are on time

All covenants met

BACK TO MARKET


Amount

£290,000,000

Current Yield

7.6%

*
Estimated Yield to Maturity

6.6%

**
Maturity Date

15 May 2023

Interest Payment Frequency

6m

Next interest payment

15 May 2018

Asset Security

First ranking charge over company assets

Industry Type

Hospitality

Next Call

15 May 2019 at 104.25
15 May 2020 at 102.125
15 May 2021 at 100

ISIN

XS1403611608


Business Description

Founded in 1985, Travelodge is the second largest hotel brand in the United Kingdom based on number of hotels and number of rooms operated. They lease, franchise, manage and own over 525 hotels and more than 39,000 rooms throughout the United Kingdom, Spain and Ireland. Travelodge operates in the attractive mid-scale and economy (“MS&E”) sector of the hotel market (as defined by STR) and are positioned as a low-cost operator, offering standardized, modern guest rooms at affordable prices to both business and leisure customers. Travelodge's brand currently has brand recognition of over 90% among the UK population (as measured by a YouGov brand tracking survey). They had 18 million customers in 2015 and employ approximately 10,000 people.


Capital Structure

Source: Public Company Information
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Information


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* The coupon divided by the price. Where the coupon is partly dependent on Libor it uses market based Libor forecasts at each coupon date over the next 12 months.
** The estimated yield from holding a bond to maturity including interest and capital repayment and assuming interest is re-invested at the same yield. Please note this calculation may be adversely affected by features in bond such as calls or prepayments. Where the coupon is partly dependent on Libor it uses market based forecasts of Libor until the maturity date.
Please note that the current yield and yield to maturity are an estimated return calculation and not guaranteed. All yields shown are gross of taxation and our Service Fee.

Status: Performing


Notes:

The company currently has no outstanding notes.

Capital at risk. No FSCS cover. See Risk Statement.

 

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