The deal was backed by Danske Bank, a Denmark-based banking and financial services company.
Travelodge Acquisition and Future Plans
Andras House purchased the 90-room Travelodge from Tifco Hotels Group, which operates the Travelodge franchise in Ireland. The company plans to refurbish the property in line with Travelodge’s programme of upgrades across its UK sites.
Rajesh Rana, Director of Andras House, said:
“We are pleased to add this well-placed asset in the heart of Belfast city centre to our portfolio. Travelodge is a strong brand at the budget end of the UK market which people recognise and understand, and we are delighted to be its franchise operator in Northern Ireland. It is a vote of confidence in Andras House’s expertise and experience.
“We have a longstanding relationship with Danske Bank, and the support of its team has been very helpful as we have grown and invested in the business. I look forward to continuing the relationship as we seek further attractive opportunities in the future.”
Danske Bank’s Support
Paul Currid, Corporate Banking Manager at Danske Bank, said: “Andras House is one of Northern Ireland’s most successful hospitality businesses, and Danske Bank has supported it with funding for a number of significant transactions in recent years. We were pleased to be able to play a part in enabling the company to complete its latest investment.
“The acquisition of the Travelodge complements the other brands the company operates in the local hotel market and positions the business for further growth as leisure and business tourism continues to gain momentum in Northern Ireland.”
Upcoming Developments
This summer, Andras House is also scheduled to open The Marcus Portrush, part of Hilton’s Tapestry Collection, ahead of The Open golf tournament returning to Northern Ireland for only the second time in 70 years.
The business is also set to start work on turning Dorchester House on Great Victoria Street into a 136-bedroom Adagio Aparthotel in February. Additionally, it plans to lodge a planning application for a 165-bedroom Yotel in Shaftesbury Square soon.
