Travelodge has reached out to 220 local authorities throughout Britain to propose a joint development partnership aimed at stimulating regeneration and encouraging growth.
The company plans to expand its UK hotel network with an additional 300 locations, offering local authorities the chance to integrate one or multiple hotels within their regions to support their revitalisation initiatives.
This expansion could represent a £3 billion investment from third-party investors and generate over 9,000 new jobs across the country. Glasgow city centre, Glasgow SECC, Silverburn, and Glasgow West End are among the targeted locations.
In 2022, Travelodge opened six new hotels, with three being local authority partnerships. Two of these hotels are situated in London at Docklands and Wimbledon, while the third is in Braintree. The group is also currently constructing two more Travelodge hotels in partnership with local authorities in Rotherham and Colchester.
These bespoke agreements feature unique funding structures, allowing local authorities to capitalise on their existing assets, create employment opportunities, generate income, and promote the redevelopment of brownfield sites.
Local authorities can choose to retain ownership of the completed hotel and receive annual rent or sell the hotel with Travelodge as the operator.
Steve Bennett, Travelodge’s Chief Property & 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 writing to 220 Local Authorities to offer our support, as we can make a real difference. We have a proven track record of working with 25 forward-thinking Local Authorities across the UK, from Ashford to Stirling. Our effective, innovative co-partnership development deals are spearheading regional economic growth and providing a solid long-term revenue stream.
“Britain has become a nation of budget travellers, with more people choosing to stay in budget hotels than any other hotel type. This trend is set to grow, which is why we are looking to expand our UK hotel network with a further 300 hotels. Adding a Travelodge hotel can act as a catalyst to attract new businesses, support regeneration, bring vacant buildings back into economic use, attract thousands of new overnight visitors to the area, and revitalise High Streets. Furthermore, our research indicates that Travelodge customers typically spend at least double their room rate with local businesses during their stay. This can translate into an annual, multi-million-pound boost for the local economy.”