The budget hotel chain says the Oban venture would create 25 new jobs and represent an investment of £6 million.
The council has already revealed that it will be increasing council tax by 4.79 per cent.
17.1 full time equivalent positions will be lost
Argyll and Bute Council will be voting on its spending plans this month
It’s unlikely overspending on health and social care will improve enough to break-even by the end of the 2018/19 financial year.
Board forecasts an overspend of £6m to £8m each year from 2019 to 2022.
Argyll and Bute Council’s cost-cutting budget could also reduce the subsidy and timetable for island flights.