Travelodge earmarks sites for new hotels in south Warwickshire - including one in Warwick
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Travelodge, which operates nearly 600 hotels, is writing to Local Authorities across Britain including councils in Warwickshire – proposing a joint development partnership.
The hotel chain already operates seven hotels across the county – including one in Leamington – and has now set its gaze on opening new sites in Warwick and Stratford.
If the proposal goes ahead, this will be the second Travelodge for Stratford – with the first being situated off Birmingham Road.
Two sites in Coventry were also earmarked.
The hotel chain says the Local Authority partnerships have been used in past to build on surplus local authority land, with the funding provided either through the Local Authority’s internal resource or via low-cost funding from the Public Works Loan Board or third party resources.
Upon completion of the hotel development, local authorities then have the choice of either retaining ownership of the hotel and receiving an annual rent into the Council’s revenue budget or selling the hotel with Travelodge as its operator.
Steve Bennett, Travelodge chief property and development officer, said: “In the current climate, Local Authorities are under extreme pressure to invest in their economy and support regeneration projects.
"This is why we have written to four Local Authorities across Warwickshire to offer our support as we have a requirement to add to our Warwickshire portfolio with a further four Travelodge hotels across the region.
"Our target locations include: Coventry, Stratford and Warwick.
"This expansion programme could represent a multi-million investment for third party investors and create 100 new jobs.
"In addition, our research shows that, on average, Travelodge customers will spend at least double their room rate with local businesses during their stay; this can be an annual, multi-million pound boost into each local economy.
“Adding a Travelodge hotel can be a catalyst to attract new businesses to support regeneration, bring vacant buildings back into economic use as well as attracting thousands of new overnight visitors to the area and revitalising High Streets.”