Travelodge - Introduce A Site, £500 per room

nodough_2

Just wondering if anyone has heard any stories, good or bad about this scheme (see the Travelodge Development website)?
A cynic would say (not me, obviously:A) that this would be an unfeasibly large amount of money to pay someone for suggesting a site, and in all probability they will claim that any good sites suggested were already known to them. I..sorry..I mean the cynic..would like to be proven wrong!

terryw

Na, think that you are cynic or at least a trifle wary!.

These guys want to extend their business empire and are open to suggestions. £500 is small fry.

Don't know about this concern (although I am a great TL fan) , but a few years back I spotted a superb site for a betting shop and I contacted a well-known betting chain and suggested that they pay me a finder's fee for the info. They agreed and after the deal went through, they paid me £1000.

By the way, JTW offer the same sort of deal.

JQ.

Terry, £500 is not really small fry - that would be a fee of £40,000 for your average TL.

In answer to the OP, yes they will pay it. However, there are numerous companies who spend all day searching for sites for all sorts of development and they would make alot more than £40k for introducing a site. Owners of suitable sites are also aware of their value and will often send their details round the market. Finding a suitable site that they don't already know about that would get planning consent will be your most diffcult task. If you know some sites no harm in sending TL the info but if you get responses telling you they are already aware of them don't assume they're lying, they probably do already know about them.

The sysyem of introducing sites and investments in the property world all relies on trust - 90% of the time it works, but you do occasionally getsome unscrupulous people. I've no doubt TL will hounour their offer if you do find a site.

Good luck

geordie_joe

terryw wrote: »

Na, think that you are cynic or at least a trifle wary!.

These guys want to extend their business empire and are open to suggestions. £500 is small fry.

£500 may be small fry, but it's not small fry to pay for information they don't use.

They will only pay if they follow up on the info and make money from it.

If you suggest a site, and they never do anything about it then they will not pay.

terryw wrote: »

Don't know about this concern (although I am a great TL fan) , but a few years back I spotted a superb site for a betting shop and I contacted a well-known betting chain and suggested that they pay me a finder's fee for the info. They agreed and after the deal went through, they paid me £1000.

But how much would they have paid you if they decided not to follow up?

Or to put it another way, how much is knowing about a site they are never going to develop/follow up worth the any company?

I don't know for sure, but I guess "Sweet FA" will be just about spot on.

terryw

geordie_joe wrote: »

£500 may be small fry, but it's not small fry to pay for information they don't use.

They will only pay if they follow up on the info and make money from it.

If you suggest a site, and they never do anything about it then they will not pay.



But how much would they have paid you if they decided not to follow up?

Or to put it another way, how much is knowing about a site they are never going to develop/follow up worth the any company?

I don't know for sure, but I guess "Sweet FA" will be just about spot on.

Obviously, no concern will pay a finder's fee if they do not go ahead.

debbie_debt

Heya

Yes the Ts&Cs do clearly state that they only pay the finders fee upon acquisition of the site - if they decide it is unsuitable then they won't pay up obviously! But there is a list of locations online of where they are still looking for sites so if your local town is listed then I reckon its worth a scout round to see if there's anywhere you think is a possibility.

Anyone heard of any success stories?

Cheers

deb

Browntoa

just been looking at the list here

http://www.travelodgedevelopment.co.uk/thl_website/new_development/uk_target_locations/

just wish I could think of a place they would use , they want a plot near me ....

Owain_Moneysaver

The budget for a new build hotel in that style is in the region of £30,000 per room; a commercial property agent will probably charge a lot more than 1.6% finder's fee. Especially if the hotel chain can deal direct with the landowner who then doesn't have to pay selling agent fees, that's a lot of money in fees saved.

Browntoa

gets in car tomorrow to drive round looking.......

glowgirl_2

terryw wrote: »

Na, think that you are cynic or at least a trifle wary!.

These guys want to extend their business empire and are open to suggestions. £500 is small fry.

Don't know about this concern (although I am a great TL fan) , but a few years back I spotted a superb site for a betting shop and I contacted a well-known betting chain and suggested that they pay me a finder's fee for the info. They agreed and after the deal went through, they paid me £1000.

By the way, JTW offer the same sort of deal.

Interesting thread, I've racked my brains but what does JTW stand for?

terryw

glowgirl wrote: »

Interesting thread, I've racked my brains but what does JTW stand for?

Oops sorry mate. Meant to put JDW meaning Wetherspoons - must have had too many real ales when I typed this originally.