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The former 57-bed Grand Hotel has undergone a £2.3m refurbishment programme, providing each room with the latest in interior design. In addition, the former kitchens and meeting rooms have been converted into eight extra bedrooms, increasing the hotel's capacity to 65 beds.
Travelodge also recently acquired two Innkeeper's Lodges in Northampton as part of a national acquisition of 52 hotels from the pub and restaurant operator Mitchells & Butlers.
Travelodge's district manager for Northamptonshire, James Collins, said: "We fought off some tough competition to secure this new hotel and are delighted to be opening our first hotel in the town centre in such a fantastic central location. We want to give travellers every reason to visit Northampton and stay longer - we see increasing the availability of low cost accommodation in the area as central to achieving this objective."
Councillor Richard Church, Northampton Borough Council's cabinet member for Regeneration, welcomed the opening by saying: "The Grand Hotel is a beautiful old building that has stood empty for too long.
"I am glad to see that Travelodge has recognised the potential of the building with a prime location in the heart of the town centre. This will see millions invested in our town centre as well as the creation of new jobs. It can only be good for Gold Street and good for Northampton."
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