Travelodge has announced it is teaming up with budget supermarket chain Aldi to help both companies develop their market share.
The two firms have identified two sites in the UK - Middlesbrough and Newquay - where they will share sites in order to help meet their ambitious growth targets.
In Middlesbrough, Travelodge will invest £2m to build a 55-bedroom hotel next to a 16,700 sq ft Aldi store while in Newquay, the budget hotel group will invest £2.9m to build a 74-bedroom hotel above the supermarket. Each development is expected to generate 20 jobs.
Paul Harvey, Managing Director for Development at Travelodge, said: "By developing sites together with Aldi, we are sending out a clear signal that the budget sector in the UK is going to make the most of the opportunities presented by the economic downturn.
"The credit crunch is freeing up sites for development that previously would not have been viable for either of us. I am sure that we will continue to work closely together over the forthcoming years."
On both sites, Aldi will have the freehold, while Travelodge will take a lease. The Middlesbrough hotel will open at the end of November with Newquay due to open next autumn.