Travelodge partnership proposal pooh-pooohed by Richmond Council (From Richmond and Twickenham Times)
Contact us: Got a photo? Text 'SLPICS' to 80360. Got a story? Call the newsdesk: 020 8744 4260
Travelodge partnership proposal pooh-pooohed by Richmond Council
Travelodge’s plans for Richmond Council to borrow money to build new hotels have been scuppered.
The budget hotel chain wrote to the council asking if it would borrow the money needed to fund the project through the Public Works Loan Board, which has fixed loan rates.
A Richmond Council spokesman said: “The council notes the initiative from Travelodge but has limited land holdings, none of which are allocated for hotel use.”
Travelodge has already opened two hotels using the approach in Aylesbury and Eastleigh and claims to be in advanced negotiations with five further councils across the country.
To develop the Aylesbury Travelodge, Aylesbury Vale District Council borrowed £18m from the Public Works Loan Board and leased the site back to Travelodge.
In March, Travelodge said it was on the hunt for five new sites in Richmond borough and hoped to set up new hotels in Barnes, East Sheen, Hampton Court, Kew and Mortlake.
The budget hotel chain already has hotels in Teddington and Twickenham.
Paul Harvey, managing director for property at Travelodge, said: “Working with local councils in this creative way has been a great experience for us and as a result of these innovative development partnerships.”
Comments are closed on this article.