The Financial Post reports in its Thursday, April 2, edition that Holloway Lodging ($6.55) has sold its Travelodge franchise business for $21-million. A Canadian Press dispatch to the Post reports that the Halifax-based company says it expects to record a $6.4-million gain from the sale, equivalent to 33 cents per share in the first quarter of its 2015 fiscal year. Holloway says the franchise operation is not core to its business, which is hotel ownership and operation. Holloway chairman Michael Rapps says: "The sale of this business will allow management to focus on our core business of owning and operating hotels. ... In addition, we believe many investors overlooked our ownership of this business, and the sale should unlock value for our shareholders." The Travelodge franchise business was acquired last year when Holloway bought Royal Host. At the time of the friendly takeover, about 90 hotels had Travelodge franchise agreements with Royal Host. The firm said it plans to use the money to repay in full the $16-million term loan used to finance last year's Royal Host deal. Holloway owns 35 hotels in Canada and the United States. Holloway's largest shareholder is Clarke, controlled by George Armoyan.