Budget hotel chain Travelodge has revealed it wants to open five new hotels in Cumbria, which would create 125 jobs.
It said it was writing to 220 local authorities across Britain and is targeting Keswick, Ambleside, Whitehaven/Workington, Windermere and ‘the Lake District’ as potential sites.
The firm wants to work with councils in a ‘joint development partnership that can act as a catalyst to stimulate regeneration and facilitate further growth’, it said in a statement.
Travelodge already operates nine hotels in the county.
The letter sent to Cumbrian councils outlines the ‘pivotal role’ that Travelodge has been playing for the last 10 years in supporting local authorities in England, Wales and Scotland by:
- Being a key player in their local regeneration & growth programmes
- Creating jobs/careers within the local community and helping parents return to work
- Attracting new visitors to the area and boosting the local economy
- Providing a solid long term income stream for the local authority as they have invested in the development of the Travelodge hotel and are the landlord
Two recent London Travelodge hotels have opened – and under the deal, the local council takes a headlease, with Travelodge being the undertenant.
The rent that the council pays is lower than the rent it receives from Travelodge, the firm said, – with an annual profit rent for a 30-plus year period.
A statement from Travelodge said: “This kind of structure enables developments to take place which otherwise would not be financially viable and therefore delivers new town centre regeneration which would not otherwise happen.”
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 have written to three local authorities across Cumbria to offer our support as we have a requirement to open further Travelodge hotels across the region.
“This expansion programme could represent a multi-million-pound investment for third party investors and create 125 new jobs. In addition, our research shows that, on average, Travelodge customers will spend at least double their room rate with local businesses during their stay; this can be an annual, multi-million pound boost into each local economy.”
