Newark's Robin Hood Hotel to become a Travelodgepublished at 11:20 Greenwich Mean Time 15 March 2019
Gavin Bevis
BBC News
A derelict hotel in Newark is to be refurbished and reopened as a Travelodge, council bosses have announced, external.
The Robin Hood Hotel in Lombard Street has been branded an eyesore by residents but the district council says £6.6m is being invested in getting it back open by summer 2021.
The authority said the regeneration, which could include a new gym, cafe and restaurant being built at the site, could create about 70 jobs,
The council said it had set up a joint venture company with the current owner of the existing buildings to ensure the development is delivered.
Both parties will make a capital contribution of £3.3m - but expect to recoup about two-thirds of this on completion when the Travelodge element of the development is sold to investors.