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Travelodge teams up with local community
Travelodge is joining forces with local authorities to open hotels as part of regeneration schemes.
It has secured three new hotel sites in Bicester, Thetford and Redhill, as part of the partnerships with Cherwell District Council, Breckland Council and Reigate & Banstead Borough Council.
The regeneration schemes will include public amenities as well as hotels.
The deal represents an investment of £11.5 million for Travelodge which comes from either the councils’ own funds or by the Public Works Loans board , which is central Government money which can be accessed by councils.
On completion local authorities will either retain ownership of the hotel, using the rental income from Travelodge to support the funding or sell the hotel with Travelodge as its operator and retain the development profits.
Peter Gowers, Travelodge chief executive 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."
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