Andras House Completes £8.75m Acquisition Of Belfast Travelodge

Hotel and leisure group Andras House has completed the £8.75 million acquisition of the Travelodge on Brunswick Street in Belfast, a deal supported by Danske Bank.

Andras House Ltd owns over 1,300 guest rooms across 12 hotels and apartment properties, including Crowne Plaza, Hampton by Hilton, and Holiday Inn. Established in 1981, the company boasts an extensive portfolio of office, hotel, and leisure developments.

The 90-room Travelodge was purchased from Tifco Hotels Group, the franchise operator for Travelodge in Ireland, making Andras House the sole Travelodge franchise operator in Northern Ireland. Plans for a significant refurbishment are underway, in line with Travelodge's nationwide upgrade programme.

The building, located in Belfast city centre, was originally developed by Andras House in 1991 as The Belfast Plaza, later operating as a Holiday Inn before being acquired by Travelodge in the mid-1990s. 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 future."

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 continue to gain momentum in Northern Ireland."