The proposed 91-bedroom hotel will occupy the site of the Chamberlin and Sons department store “in the heart” of the city centre, on the corner of Guildhall Hill and Dove Street.
The development will be funded and delivered by a UK Pension Fund, and it represents an investment into the city of approximately £8m-£10m.
It is expected to create around 25 new jobs within the local community, and development work will start in the latter part of the year.
Travelodge currently operates three hotels in Norwich, including Travelodge Norwich Central, Travelodge Norwich Central Riverside, and Travelodge Norwich Cringleford. Overall, the chain operates 592 hotels across the UK, Ireland and Spain.
Tony O’Brien, development director at Travelodge, said: “The hotel will be built in a fantastic spot, on the site of the famous, former department store, Chamberlin and Sons, near to all of the central shops and attractions and will be a great place for our business and leisure customers to stay.
“Norwich is growing at pace, but there is a desperate need for good quality and great value accommodation, to meet the growing demand from business and leisure visitors visiting the area. This new development will strengthen our offering across the city centre and ensure we have Travelodge hotels close to all major attractions and universities in the city.”
John Walker, property consultant at Ward Hill Walker, added: “This is very good news for Norwich. This new landmark Travelodge offers fantastic views of the city, makes superb and appropriate use of a very high profile and underutilised building, in the heart of the city.
“It is also excellent news for the city’s retail and leisure sectors and the current shortage of hotel rooms in Norwich. The city has strong year-round occupancy levels, with annualised occupancy higher than that of the wider UK regional market.”