Silverstone race track owner the British Racing Drivers Club (BDRC) is in talks with hotel operators about developing an on-site property at the home of the British Grand Prix.
The news comes just weeks after property developer MEPC was granted outline planning permission for two hotels as part of a mixed use development on the outskirts of the Silverstone circuit.
The BDRC hotel initiative follows the award of £9.1m in funding from the National Lottery for the creation of a motorsport museum at Silverstone, which could attract up to 400,000 visitors a year. BDRC chairman John Grant said the development, known as the Silverstone Heritage Experience, "transforms the business case for a hotel".
He confirmed that it was in early discussions with hotel investors and operators regarding the development of a hotel to support the circuit, the conference facilities and the Heritage project.
The MEPC plan is for a business and technology park, hotel, education centre and social hub called Silverstone Park, which could take 10-15 years to construct. Outline permission has been given for 250 beds spread over a maximum of two hotels. The plan was rubberstamped by South Northamptonshire Council in mid-December.