A LONG LEASE to enable a 150 bedroom hotel on the Ricoh Arena car park is set to be approved by Coventry City Council leaders.
A council press release today states Wasps Holdings Limited approached the council to request the grant of the long lease over car park C (opposite the retail park) to allow development of the new hotel.
The council says the hotel will support events and conferencing at the arena and across the city.
The stadium houses newly promoted League One football team Coventry City and Aviva Premiership rugby union team Wasps.
The Rich Arena compex comprises the stadium, indoor arena, conference and exhibition centre, banqueting hall, hotel and casino.
It welcomes 1.6million visitors every year.
The council says it hopes the new hotel will be completed in time for Coventry’s year as the UK City of Culture in 2021 and the Commonwealth Games in 2022 – when the Ricoh Arena is expected to host the Netball tournament.
Coun Jim O’Boyle, Coventry council’s cabinet member for jobs and regeneration, said: “An additional hotel at the Ricoh Arena has been long-awaited and is much needed. Proposals for a hotel have been discussed for a very long time and now, finally, we are able to take real steps towards achieving this ambition.
“A new hotel will help to support events and conferencing at the Ricoh Arena and will help to ensure visitors stay here in Coventry when they visit the Ricoh.
“The north of the city is an excellent gateway and it’s important that we have the accommodation in place to make sure that visitors can stay and enjoy what we have to offer.
“We also know that hundreds of extra bedrooms will be needed for 2021 so there is a real incentive to get it built and open for then.”
A council spokesperson said that if the application is approved, Wasps Holdings Limited will enter into a licence with the council until November 2019.
During this period it will be required to apply for planning consent for a new hotel on the site.
The car park will remain in operation throughout this time.
Wasps will only be able to enter into the new lease once planning consent has been granted, the council says.
If development does not start within two years, the council will be able to surrender back the long lease.