Travelodge has bought the 42-bedroom wing of a 17th-century coaching inn near St Austell, Cornwall, from the St Austell brewery for an undisclosed sum.
Under the terms of the deal to purchase the leasehold of the property, Travelodge will refurbish and operate the accommodation side of the Victoria Inn & Lodge, in the village of Roche.
The current business, which dates back to 1642, comprises an oak-panelled main bar, restaurant, conservatory and a 42 en suite-bedroom hotel.
Paul Harvey, managing director for development at Travelodge, said: "We have been looking for a site in this area of Cornwall for some time and are delighted with the location that, with Christie's assistance, we have been able to secure. The location is perfect and I am sure that many of our guests will be popping into the pub next door for a quick pint of Tribute."
Adam Luck, estate director at St Austell Brewery, commented: "We are delighted to have secured this mutually beneficial and unique agreement with Travelodge, which will help secure the long-term prosperity and success of the Victoria Inn & Lodge. The Travelodge brand and marketing support will help ensure the lodge attracts overnight guest throughout the year while the inn and restaurant will continue to operate as a St Austell Brewery managed house serving visitors and the local community."
Simon Stevens, director at Christie & Co, which brokered the sale, said: "We are delighted to have been able to facilitate this deal between two established and high-quality operators. Travelodge continues on its expansion trail by securing a hotel situated in a prime trading location in what has always been a popular stopping off point for visitors to this picturesque part of the country."
By Neil Gerrard
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