Bosses with budget hotel chain Travelodge say they have written to Ryedale District Council to propose a new partnership to finance the construction of a new hotel in Pickering.
They say that by borrowing money from the Government, via the Public Works Loan Board at a fixed low interest rate, the authority can regenerate surplus land that they own and generate profits on the investment.
The programme has already seen two hotels open with the company in advanced negotiations with five other councils in the UK.
Paul Harvey, managing director for property at Travelodge Hotels, said: “If Ryedale 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.”
A spokesperson for Ryedale District Council said Monday: “To date we have received no correspondence from Travelodge.”