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Travelodge chain in Pickering hotel bid
9:32am Wednesday 9th October 2013 in News
PROPOSALS have been put forward to build a Travelodge hotel in Pickering.
The chain has written to Ryedale District Council outlining a development partnership which they say would create jobs and generate a profit for the authority.
By borrowing money from central Government through the Public Works Loan Board at a fixed low interest rate, local authorities can regenerate surplus land that they own and generate double-digit profits on their investment.
Travelodge has already successfully opened two hotels in conjunction with local authorities through this innovative programme which includes an 81-room hotel in Aylesbury which officially opened this week and Eastleigh Central Travelodge, which opened earlier this year.
Travelodge already has 18 hotels across Yorkshire, employing 270 people.
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