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Positive outlook for hotel plans
10:00am Friday 11th October 2013 in News
TEST Valley Borough Council has responded very positively to an approach from budget hotel group Travelodge’s proposal for an innovative development partnership to finance the construction of a new Travelodge hotel in Andover.
The firms says the deal will not only create jobs in the community, but will also generate a profit for the council.
Travelodge says that by borrowing money from central Government via 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 via 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.
The company is also in advanced negotiations with a further five authorities across the UK about similar deals.
Paul Harvey, managing director for property at Travelodge Hotels, 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.
“If Test Valley has suitable land or assets in Andover that is viable for a Travelodge hotel, then we would be delighted to work with them to help boost their local economy, create new jobs within the community and generate a good return for their investment.”
A borough council spokesman said: “Test Valley Borough Council would welcome discussions with Travelodge about opening a hotel in Andover.
“Indeed, the council has twice written to Travelodge proposing such a meeting, following a similar news release from the company in June 2013.
“The provision of hotel accommodation in Andover is of significant interest to the council as the town expands.”
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