Budget hotel group Travelodge is writing to 220 local authorities across the UK topropose a joint development partnership aimed at stimulating regeneration and economic growth.
Travelodge said it has identified that it can expand its UK hotel network with a further 300 locations for new hotels, as part of an expansion plan that could create around 9,000 jobs and represent a £3b investment for third-party investors, the company said.
It would see branded hotels open in over 120 towns, such as Ripon, Lichfield, and Cromer, for the first time.
In 2022, Travelodge opened six new hotels, three of which were Local Authority partnerships with two hotels located in London at Docklands and Wimbledon and the third hotel situated in Braintree. The group is also presently on site with construction of two further Travelodge hotels being delivered in direct partnership with Local Authorities in Rotherham and Colchester.
The Rotherham Travelodge is the group’s first hotel in Rotherham, and it is also the first branded hotel in the town centre.
For Colchester, it is the group’s second Travelodge hotel.
The agreements had funding structures which enabled local authorities to utilise existing assets and regenerate brownfield land in strategically important locations.
Some of the new Travelodge hotels in the programme were built on surplus local authority land, with the funding provided either through the local authority’s internal resource, or from the Public Works Loan Board or a third party.
On completion, local authorities had 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 are today writing to 220 local authorities to offer our support, as we can make a real difference.
“Adding a Travelodge hotel can be a catalyst to attract new businesses, 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.”
Cllr Chris Read,Rotherham Council’s Leader,said:
“The Rotherham Town Centre Masterplan aims to develop Rotherham into a leisure destination which will benefit the local economy and residents. To facilitate this vision, having a well-known and trusted hotel brand like Travelodge is a great asset and hugely beneficial as it helps to attract other major brands to invest in Rotherham. Also Travelodge’s great value proposition will help to attract business and leisure visitors to the area which then positions the town centre as the gateway to explore the wider leisure and culture offer the Rotherham borough.