A budget hotel chain is looking to build three new hotels in St Albans district, it has been announced today.
Travelodge has written to St Albans District Council proposing a new development partnership to finance the construction of hotels in St Albans, Harpenden and London Colney.
This will create jobs in the community and will also generate a profit for the council.
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.
Paul Harvey, managing director for property at Travelodge Hotels, said: "If St Albans District has suitable land or assets in a location 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."