Travelodge is to ditch 49 hotels as part of debt deal

One of Britain's biggest budget hotel operators will walk away from 49 of its hotels, including four in Scotland, and write off £700 million debts under a controversial rescue deal.

Travelodge, which owns more than 500 hotels across the UK, Ireland and Spain and employs over 6000 staff, said the deals will secure its long-term future and free it of much of its crippling debt burden.

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