Whitbread, the budget hotelier, on Thursday sought to play down its interest in acquiring rival Travelodge, but went short of ruling out the possibility of such a tie-up.

The companies were in talks over a possible merger earlier this year, but they ended in acrimony after the two failed to agree on price. Since then, there has been faint hope that talks could be revived – a suggestion brushed off by Alan Parker, Whitbread’s chief executive.