A new hotel is set to be built on one of the car parks at the Ricoh Arena. Wasps Holdings Limited (WHL) have approached the Council to request the grant of a new long lease over Car Park C (opposite the retail park). The city council’s cabinet is set to approve the new long lease for the car park to facilitate the development on July 17, according to the Coventry Telegraph.
Income from the hotel will be a useful source of cashflow for Wasps Holdings, which is being funded by shareholder support at the moment. Sisu, the owner of Coventry City FC, is still contending the sale of Ricoh Arena to Wasps Holdings for £21m.
The new hotel will support events and conferencing at the Ricoh Arena and across the city, which is City of Culture in 2021 and is set to host the netball event of the Commonwealth Games 2022.