Travelodge owners to consider sale

The owners of Travelodge are preparing to appoint advisers to consider a sale that may value the company at more than £1 billion (US$1.46 billion), according to The Times of London.

Owners Goldman Sachs, Avenue Capital and GoldenTree Asset Management are also in talks for a possible flotation of the company, but a sale in the next nine to 12 months in seen as the most likely option. The current owners took control of Travelodge in 2012 when it faced collapse with debt up to £500 million (US$732 million).