Travelodge considering debt plan

One of Britain’s biggest budget hotel operators was today considering walking away from up to 50 of its sites to help tackle its £500m (€638m) debt mountain.

Travelodge, which owns more than 500 hotels across the UK, Ireland and Spain and employs more than 6,000 staff, is considering asking landlords to accept a controversial company voluntary arrangement (CVA) as part of a wider restructuring.