Travelodge has written to Daventry District Council (DDC) to propose building a new hotel in the town.
No location has been mentioned as part of the letter which was sent on Monday. It is asking for DDC to finance the construction and then to rent it out to the chain.
The firm says the plans would create jobs in the community but will also generate a profit for DDC.
By borrowing money from central Government at a fixed low interest rate, local authorities can regenerate surplus land that they own and generate profits on their investment.
The managind director for property at Travelodge, Paul Harvey, said: “Working with local councils in this creative way has been a great experience for us and as a result of these innovative development partnerships, we have today written to Daventry District Council to see if we can work together on a similar partnership.
“If DDC has suitable land or assets in a location that is viable for a Travelodge hotel, then we would be delighte d to work with them to help boost their local economy, create new jobs within the community and generate a good return for their investment.”
DDC chief executive Ian Vincent said: “A hotel is among the opportunities included for Town Centre Vision Sites 3 and 6 off Eastern Way and Ashby Road. The Masterplan for these sites is being revised now the new University Technical College has been built and will offer a mix of community, leisure, residential, employment and educational amenities.
“We are aware of the proposal that Travelodge has made to a number of local authorities, including DDC, and we continue to consider all options for how to take forward our proposed development schemes.”