No-frills formula nets two hoteliers €15m windfall

There are no biscuits or teapots in the rooms of hotel guests but the winning no-frills formula at Travelodge has resulted in a €15m windfall for two Dublin businessmen.

New accounts show hoteliers Richard O’Sullivan, from Rathmines, and Seamus McGowan, from Foxrock, shared €15m from the Irish franchise this year.

The two purchased the franchise along with its eight properties in 2004.