Purpose

To ensure the council-owned company owns the
Hotel asset to enable this company and its subsidiary to manage and
operate the Hotel in line with agreements made with third party
franchisors/operators.

Content

To approve the
Council entering into a Loan Agreement with Rochdale Hotel Holdings
Limited to provide funding to support the transfer of the
Upperbanks Hotel asset from the Council
to the Holding company, to enable the operation of the Hotel in
line with agreements made with third party
franchisors/operators.