Travelodge group pre-tax losses up threefold to €2.58m

PRE-TAX losses at the company that operates the Travelodge chain of budget hotels in Ireland increased almost threefold last year to €2.58 million, new figures show.

Accounts just filed with the Companies Office show that Smorgs (Ireland) Ltd recorded the increased losses in spite of increasing its gross profit from €7.6m to €8.8m to the end of March this year.

However, the accounting period is for a 15-month period compared to a 12-month period the previous year.