Travelodge ownership hangs in balance - The National

The future of Dubai International Capital's (DIC's) ownership of the budget chain Travelodge hung in the balance last night amid speculation that two New York hedge funds are trying to prise the company away from the Dubai firm.

The hotel chain, based in the UK, has been undergoing a debt restructure. Reports out of the UK have stated that the hedge funds GoldenTree Asset Management and Avenue Capital, which have underwritten a loan facility of £60 million (Dh349.5m), are set to take control of the hotel chain.

DIC's response suggested it was only certain that it retained ownership for now, which raises questions about changes that may take place in future.

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