National property and construction consultancy Wakemans played a vital due diligence role on behalf of hotel group Travelodge, which has agreed a £91million deal with Mitchells and Butler (M and B) to take on 52 of its Innkeeper's Lodge hotels.

Wakemans inspected the Innkeeper's Lodge properties and prepared a detailed due diligence report on each, including assessments of environmental hazards, building restrictions, access and condition and a calculation of future costs and liabilities. The investment will include building works to create a new reception area in each hotel, redecorating and replacing the beds.

Wakemans also worked closely with Travelodge's solicitors to finalise the contractual agreements.  

"Travelodge needed to be sure that the Innkeeper's Lodges would meet its current requirements and, in turn, support its aggressive growth strategy, so our team conducted an intensive due diligence review which enabled the company to make informed decisions about each of the M and B properties under discussion," says Wakemans associate director Nigel Himpson.

Mitchells and Butler will sell the majority of the lodge hotels to real estate manager Prupim (part of Prudential) and Travelodge will operate and lease the properties in a 25-year deal which enables it to increase its estate to 452 hotels and more than 30,000 rooms.