The 150-room budget hotel in Grafton Place, NW1, was acquired from a syndicate of private investors
Travelodge expects to open 15 new hotels across the UK in 2017, five of which will be in London.
Travelodge is looking to open hotels in Hampshire, targeting Winchester, Portsmouth, Southsea, Gosport, Fareham and Hedge-End
Proceeds from placing will go towards the acquisition of the 55 Travelodge hotels