Australia and New Zealand Travelodge Brand for Sale with Tucker Box Hotel Trust
Tucker Box Hotel Trust has sold more than 2,000 rooms in 11 hotels.
Mirvac and NRMA jointly own the Travelodge Hotels in Australia and New Zealand and a large percentage of their rooms are located in Sydney or Melbourne.
Value Lodging Pty Limited is currently leasing and managing all properties, which are a subsidiary of Toga Far Eastern Hotels. The option of vacant possession will be available upon sale. TFE Hotels retains the exclusive license to use its brand in Australia and NZ.
McVay Real Estate & Credit Suisse will manage the Expressions of Interest Campaign, which closes Thursday, November 19, at 4 pm.
In a statement, NRMA and Mirvac said the sales campaign followed several unsolicited offers for the trust. Given the expected demand for affordable accommodation and the forecast improvement in domestic travel, both NRMA and Mirvac have elected to commence a process to explore the interest in this portfolio from both domestic and international investors and operators given the prime locations, weighting toward the attractive Sydney market and scale of the platform,” they said.