The idea, which would use the name of the fictional pub from the 48-year-old series, could also capitalise on plans to relax product placement rules.
The government is expected to relax a ban on product placement in programmes, which would give ITV the opportunity to promote a brand of beer in the soap, if its pub partner in the venture owns its own brewery.
A fictional brewer called Newton & Ridley has supplied the beer in the Rovers Return since the start of the series.
Dawn Airey, ITV's managing director, said: "We are absolutely looking to exploit all our brands in a far more commercial and efficient way.
"A huge amount of value lies in big ITV brands like Coronation Street and finding more creative and imaginative ways of exploiting those brands."
Airey is also believed to be looking at marketing a range of cookware for 'Hell's Kitchen', as well as ways to harness the power of ITV's other popular soap 'Emmerdale'.
ITV is also considering reviving tours of the 'Coronation Street' set, which was once one of the most popular tourist attractions in the North, pulling in 5.25m people in its first year.
The tours were closed at the beginning of the decade, but ITV feels it could revive their popularity if it teamed up with a successful leisure operator such as Madame Tussauds.