Travelodge has exchanged contracts to develop a new 89-room hotel at the Goods Yard regeneration scheme in Bishop's Stortford.

The planned hotel will showcase Travelodge's latest premium design, including a contemporary reception area and next-generation rooms aimed at providing a comfortable stay for both business and leisure travellers. The project is subject to planning approval and will be developed by Solum, the partnership behind the Goods Yard scheme, a joint venture between Kier Property and Network Rail.

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Property consultancy Carter Jonas facilitated the deal on behalf of Travelodge, with Samuel Turner leading negotiations.

Steve Bennett, Chief Property & Development Officer at Travelodge, said: "We are delighted to have exchanged contracts with Solum for our proposed Bishop's Stortford Travelodge. This is our second development deal that we have transacted with Solum, which previously built and delivered our fantastic Travelodge in the centre of Epsom.

"Travelodge now operates over 610 hotels across the UK, and we are actively targeting a further 300 new locations, with 95 of these in the South East region. Our ongoing expansion will create even more jobs across the UK and will allow us to continue to offer our diverse customer base of business and leisure customers great value when travelling across the South East and the wider UK."