___LZSettings_N4IgpgdghgRgNmAMlAXgTxALgGZTgZzABoQ84BRAN0gBd8saAnAV2JAEsawBbfASQgAlAPYB3LAGYSNWAhoBhYXGbcI9TACZpssDQDizGl0ZYNABhLdhMdgkXLV6gKyXrtsAaNgTmCyDjCUAAmAIJwcADyjAAKUADmWLgEbAHBsXFgAMrsKGBYACwkooxQAA58XLwA6pwAFojsEADWiXiEJPjCjDSZKtxQjGgVPOogEMIAtJ3dIB21Ypm1A2AAQoY0wmpYY8KLy7MgMOub-ADGm2HscRDctNuntN4HR0YnfOcQ2bnb+P3hz8c1O9NvYutt4FBTi0SC8NkCPpkaGgED8AI7MZYTGBdIJPEjBILyKA0AAq8XkcCg+EIo3GEDyJHO4TApxo7E2AFVGHBtgB6D7YbyQB4TU5kfATKAQIKSiDjZgPW4QOgHSA6cgADwejFKNAAEiSALKIVrJRlKBCs9kQPhBbZOIKnU5mGBQWBOCQAdnyYAAjEFPQAODROJz5GAwA64-BXCDbODsfA0A61MDBbwksAa5OYEAHLjZr55XO-MgHUrxLI5YtaDj9DIhfClFk0QTE9nbEKGYQHJkqCA1II0WqST1+OLrJ6YfJ+BNJvj1qvfTASWeJmgLyuXa5KnP+MDYZMdBPR6LeETiTTSLM0bc3O65hCHg74eaiEmcFGYJisOZiEm1CoMDQLYDAsGwr5iJq2q6mBv4gJBoiCGmQSGl0SCNC0OBtBBb7RIw7APHBbClIwwhBAqNAAIrMIRTQAGrsGAojkNA8BgHa2FmgheFUjQUQcqU5zcI0cRULQozMEJwgiRACSWLowTElA0TCDGbKbOCYABKIoqbFwyrlgR-SDIailBMp2wWVwL4spsFmmeZlm5mA1DKhMbK3Ac2C2MYWCgDICS5iSgghPR5CIBEAAiejkL2xJgHEXQYJgEDMOEJCCsSzCMBxpqEAAvvi3byGRpTESQCZxLUNDYhq+VsCJGocYoyoPj+bDwMIUK2vcHFgBIvq+lAZinAAnFAq75BIQSBgAbGYBy5XgKwBD1nGHGtTQTHNpyBp6MBBE4MBgGNvrOk42AaKuuAgAVQA
Travelodge - 26Q2 Results Call
Read more →
Travelodge 26Q1 Results Call.m4a
sarria live model
sarria analysis
corporate filings

- for speed listening, go to the settings wheel on the bottom right of the video and choose playback speed - after one minute video becomes high-resolution -

Travelodge Client Call | Thursday 21 May, 3 pm BST | 10 am EST

 

Capital Structure - 21 May 26

Base Case EBITDA, Cashflow - 21 May 26

DCF Valuation, DCF Issues - 21 May 26

Game Theory - 21 May 26

Investment Discussion - 21 May 26

 

Presentation

 
SARRIA News -INTU___LZSettings_N4IgpgdghgRgNmAMlAXgTxALgGZTgZzABoQ84BRAN0gBd8tcDiQBLGsAW3wEkIAlAPYB3LAGYSNWAhoBhAXACuHCPUwAmCVLA0A4gprsATljUAGEhwEwWCOYuWqArBas2weg2GOZzIOAKgAEwBBODgAeUMABSgAcwY8QhJ-IJjYsABlFhQwLAAWEiFDKAAHbnYuAHU2AAtEFggAawSmEnwBQxoMpQ4oQzRyzlUQCAEAWnbOkDaa4QyavrAAIX0aARUsEYF5xemQGFX1ngBjddCWWIgOWk3j2i89g4Mj7lOILJzN-F6wx8OVV7rOwdTbwKDHZokJ5rAFvDI0NAIL4ARwUizGMA6gQeJCCgRkUBoABU4jI4FB8IRhqMILkSKcwmBjjQWOsAKqGOCbAD0+D6hhYFLGtKE+DG2H8IhIkC0yHQSwEgQwmBohgUzAZCGZrIg3ECm0cx0cUCgAA5jmo8gBGACcZjUAHYAGyBO02mA2sAwPbY-AXCCbOAsfA0PY1MBBLxEsAAD1DmBAGWCfD43GCAAIAHJgUXpsbcTNEtl7dhxj65BPXQIsJR7EpxTLZCvOVi9dLBfAlJk0PiE1mbYL6AR7BlKCDVQI0GpiRy+WKrB6YJ2+IMh7htxufdQr4M0dcN86Xa4QeN+MDYUNtIO+qJeQQiTAt0s0Q9XG4JhAXvb4WZCIlsJEVTVZgf2EIkaiUGBoBsLBVXVGZhHIGM7kMEp4zgkDfz4CNAgAWQ6JAGmaHBEkw4QogFO5YOAkgSkMRUFGZABFBQWAhAA1Fgc3IaB4DAfUSNaEBQKEGIQ0iNkSlODgGliKhaGGBQpIEGSIHiCxtCCQkoCiAQ-RZdZQTASUxhZGgkVogVen6XDNMCbTNns9hvyZdZ7JsuyHITKB9FmYwSGwGwjCwUBJHiBMiT4YJ2PIRBwgAER0cgQAAX1xIcZHokpqPgvwLhqGhMRjFokhAGSY34uQT3fDCoX8CE9U2PIbTyGAYDUKA1FNURAjUNReuOGAwB6vZsHkSUMgEBRDDuDkuSA3LDAjOAlnqxpGoTeABAhMZAhgB1sEcMBHVap0oFMD0rWwPJHBtVKgA
Travelodge - comment
Wolfgang Felix
Travelodge - comment
Wolfgang Felix

Good for the bonds. The company outperformed our forecast in two key areas: revenues and M&A outflow. The former is also set to

Read more →
Wolfgang Felix
PastedGraphic-2-6.png
Wolfgang Felix
Travelodge - comment
Wolfgang Felix

We are not short these bonds because of the rich coupon that would burn a hole in our pocket. But unless the company can guide to strong occupancy over the summer, we are inclined to

Read more →
Wolfgang Felix
Travelodge - Crunch Time - Model Update
Wolfgang Felix
Travelodge - Crunch Time - Model Update
Wolfgang Felix

Please find our updated analysis here.

We feel reminded of Emeria. Strong fundamentals conflict with challenging technicals, where a valuable company runs an outsized M&A and CapEx program to put its liquidity under pressure at the wrong moment. But that is where the similarities end. Documentation and legal setup are very different, and Travelodge still has one or two more cards to play to buy itself a little more time if it feels it can make investors comfortable next year.

Read more →
Wolfgang Felix
Rino Mastrotto Client Call and Presentation are now available on the website
Martha Felix
Rino Mastrotto Client Call and Presentation are now available on the website
Martha Felix

Rino Mastrotto Client Call and presentation are now available on Rino Mastrotto’s page.

Read more →
Martha Felix
Aengus McMahon
Travelodge - comment
Aengus McMahon

Bonds will be higher on hopes for relief from rises in business rates. The company had said the increase would be

Read more →
Aengus McMahon