Acting on behalf of St Austell Brewery, the brewer and pub operator, Christie + Co has sold the leasehold interest of the 42-bedroom wing of the Victoria Inn & Lodge near St Austell, to Travelodge, the budget hotel operator, for an undisclosed sum.
Located in the village of Roche, the Victoria Inn &Lodge is a traditional coaching inn dating back to 1642. The current business comprises an oak-panelled main bar, restaurant, conservatory and a 42 en suite-bedroom hotel.
Under the terms of the new deal, Travelodge will refurbish and operate the accommodation side of the business, whilst St Austell Brewery will continue to operate the pub/restaurant as part of its managed estate.
Paul Harvey, Managing Director for Development at Travelodge, said: “We have been looking for a site in this area of Cornwall for some time and are delighted with the location that, with Christie’s assistance, we have been able to secure. The location is perfect and I am sure that many of our guests will be popping into the pub next door for a quick pint of Tribute.”
Adam Luck, Estate Director at St Austell Brewery, commented: “We are delighted to have secured this mutually beneficial and unique agreement with Travelodge, which will help secure the long-term prosperity and success of the Victoria Inn & Lodge. The Travelodge brand and marketing support will help ensure the lodge attracts overnight guest throughout the year while the inn and restaurant will continue to operate as a St Austell Brewery managed house serving visitors and the local community.”
Simon Stevens, Director at Christie + Co, said: “We are delighted to have been able to facilitate this deal between two established and high-quality operators. Travelodge continues on its expansion trail by securing a hotel situated in a prime trading location in what has always been a popular stopping off point for visitors to this picturesque part of the country.”