Search
The Caterer

Travelodge confirms three new local authority deals

22 December 2014 by
Travelodge confirms three new local authority deals

Budget hotel group Travelodge has secured three new sites in partnership with local authorities, representing an investment of £11.5m.

New hotels will be built as part of regeneration schemes with Cherwell District Council in Bicester, Breckland Council in Thetford and Reigate & Banstead Borough Council in Redhill.

The new developments, which will join the Travelodge portfolio of 516 hotels, are expected to create 50 new jobs.

They represent the latest in a new initiative between Travelodge and local authorities to develop hotels in regenerated areas, using backing via low-interest funding from the Public Works Loan Board, the councils' internal resources or third-party finance.

Upon completion of each hotel, local authorities have the choice of either retaining ownership of the hotel and using the rental income from Travelodge to support the funding or selling the hotel with Travelodge as its operator and retaining the development profits to plough back into local communities.

Peter Gowers, chief executive of Travelodge, said: "We are delighted to be working with leading local authorities to help local communities realise the income potential, job creation and other community benefits that a Travelodge-backed development scheme can bring to their area.

"There are considerable further growth opportunities for Travelodge in towns and cities right across Britain and we are looking forward to adding further hotels to the portfolio as we extend the programme over the years ahead."

The new hotels include a 53-bedroom hotel in Bicester, which will open in summer 2015. It will be incorporated within a new development within Franklin's Yard, which will include a new library, council office space and retail units.

In Thetford, work will start in summer 2015 on the building of a 62-bedroom hotel alongside a three-screen cinema and five restaurant units; while Redhill will see the redevelopment of the Warwick Quadrant to include a 68-bedroom hotel with Bar Café, together with a new Sainsbury's store.

Travelodge completes £57m refurbishment >>

Travelodge reports £57m pre-tax loss for 2013 >>

Travelodge encourages councils to develop hotels >>

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.