Travelodge pulled down by £100m debt finance bill The charges mean Travelodge has not made a pre-tax profit since 2006. In 2010, the company lost £102.4m, despite earnings before interest, tax, depreciation and amortisation rising 5pc to £47.8m. In the accounts, Travelodge says that its funding status "anticipates the company achieves rapid growth with debt repayment funded by either a refinancing or disposal event." DIC bought Travelodge from Permira for £675m, backed by loans of £478m. However, those debts have now risen to £517m, plus £371m of eurobonds. It is understood the fund owns 80pc of Travelodge, with management owning the remaining 20pc. DIC says it wrote off the value of its equity in Travelodge in 2008. US hedge funds Avenue Capital and GoldenTree Asset Management, junior lenders to Travelodge, are now understood to be seeking to take control of the company through a debt-for-equity swap. This is expected to take months. However, as a first stage, the funds have agreed to underwrite a £60m loan to the hotel operator to ensure its future. On Tuesday, the senior lenders, including Barclays, will be given the chance to fund the £60m loan. A spokesman for Travelodge said there is "no risk" of the hotel group going into administration.