Budget hotel chain Travelodge has written to 124 councils across England and Wales, appealing to them to kickstart a development partnership with them.
The firm has asked authorities to consider working with the chain to secure low interest funding from the government that will, in turn, help to build hotels on raw undeveloped land. Travelodge believes that such a union, which is a first for a budget hotel brand in the UK, could not only create a wide array of construction and hospitality jobs, but it will offer profitable investment opportunities for local economies.
Out of these councils, the company is already in advanced talks with five councils to develop any land that they may own.
Travelodge is hoping to secure these deals after it forged successful partnerships with councils in Eastleigh and Aylesbury, borrowing £18 million from the Public Loans board at a fixed low interest rate of 4.5 per cent. In turn, surplus land in Aylesbury became the site for an 81-bedroom Travelodge, a multi-storey car park and a Waitrose branch.
Aylesbury Vale Council leader Neil Blake said: "We are delighted to have been able to push forward with our regeneration plans and secure an impressive yield on the site. The new development, including the addition of the Travelodge, has not only significantly enhanced the attraction and vitality of Aylesbury, but has meant that we can now confidently move forward with the rest of our plans to improve the town.”
With Aylesbury Council already expecting double-digit investment growth from the project, the hotel group hopes that other authorities will now follow in tow.
This move is part of wider expansion plans by Travelodge, which hopes to open at least another 145 sites in London over the next 15 years.
Berkeley Scott is a specialist recruitment agency providing hotel management solutions.