All options are being considered as KPMG is confirmed as the firm advising budget hotel chain Travelodge in dealing with its £500m debt burden.

Among the options being looked at by the hotel company is asking landlords at the 500 sites across the UK, Ireland and Spain to agree to a Company Voluntary Arrangement (CVA).

As many as 50 of the Travelodge hotels would operate under new management if the CVA route was chosen, but no jobs from the company's 6,000 staff are at risk at this stage.

A spokesperson for Travelodge said: 'A CVA is just one of the options being considered, but no decision has been made as of yet. What we do know though is that there will be no job losses.'

A KPMG spokesperson confirmed the firm was taking an advisory role, but would not comment in regard to the options being considered.

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