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Scotland’s Hotel Sector Set for Growth in 2015

Posted by: In: Real Estate 11 Feb 2015 Comments: 0 Tags: , , , , , , , , , , ,
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Following on from the success of 2014’s Commonwealth Games and Ryder Cup hosted by Scotland, the country’s hotel industry is now seeing a major upswing in confidence.

The positive outlook is enhanced by a series of major hotel deals announced in Scotland in recent weeks: The Radisson Blu on Edinburgh’s Royal Mile was sold to a German investment firm for around £59m; veteran hotelier Peter Taylor sold his Town House Hotel Company which included Glasgow’s Blythswood Square and The Bonham in Edinburgh in a multi-million pound deal and Edinburgh-based Apex Hotels have also announced a planned investment of £10.5m to acquire and revamp the former Mark’s Hotel on Glasgow’s Bath Street.

2014 was an enormously successful year

Steve Cassidy, Hilton Worldwide’s vice president for UK and Ireland said: " Clearly, 2014 was an enormously successful year. The event business was strong with the Commonwealth Games and Ryder Cup but I think there is a lot of optimism that the boost is sustainable. I think Scotland has really put itself on the global map as a destination country- it’s really enhanced its reputation ".

Mr Cassidy is currently involved in developing two new hotels in Scotland that will be run under the Hampton by Hilton brand. The first will open this year on West Campbell Street in Glasgow city centre while planning permission has just been obtained for the second hotel in Dundee.

An increasing number of US hotel brands have been offering fractional ownership schemes to buyers seeking to capitalise on the growing trend for hotel room investment. According to Mr Cassidy, Hilton has 12 brands operating in the US, the most recent being Canopy by Hilton and the Curio Collection. Curio allows owners to retain their individual identity while enjoying the commercial benefits of joining the Hilton Worldwide brand family.

Hoteliers such as Hilton are working closely with the government on skills, training and development agenda, seeking support for expansion of their core business within Scotland.

“This is an industry that is creating a huge number of jobs. In fact, nearly 30% of all new jobs created since 2012 have been in the hospitality and tourism sector. We reckon as an industry between now and 2015 we could create upwards of 200,000 new positions,” said Steve Cassidy.

" In order to fill those positions, we need to attract talent. We believe that there is a particular opportunity to bring young people into those positions in the hospitality sector and an opportunity to give them a career through investing in their skills, development and training, " he added.

 

Article by +Roxanne James on behalf of Propertyshowrooms.com

Source:: Property show rooms

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