By Jonathan Davies

The owners of Travelodge are set to sell the hotel chain for a reported £1 billion, or seek a share sale, according to the Daily Telegraph.

Goldmand Sachs, GoldenTree Asset Management and Avenue Capital, which have owned Travelodge since 2012, have reportedly appointed Deutsche Bank to advise on the sale or share sale.

It comes as the hotel reported half-year revenues of £261 million, an 18% rise on the same period last year.

Analysts understand that Travelodge's owners are seeking to offload the hotel as part of their turnaround plan. They bought Travelodge in 2012 when it had £500m debts.

Profits have surged in recent years, boosting the company's finances.