Scotland’s tourism sector continues to thrive, especially for accommodation businesses where we’ve seen significant development over recent months.
Hospitality – what’s happening?
This quarterly update has a strong focus on the hotel sector, which has been an active area for investment during 2015. Since 2010, Scottish hotels have returned an average of 9.5% year-on-year - outperforming all other European markets except the rest of the UK.
Radisson Red’s UK first for Glasgow
Glasgow will be home to the first Radisson Red Hotel in the UK. The £30 million, 176 bedroom hotel will be on the banks of the river Clyde, near the SECC Hydro. The 10 storey building will feature a colour-changing exterior, roof bar and gym with views across the city, parking for 80 cars and two state-of-the-art digital screens which will promote events at nearby venues.
Developer appointed for £40 million Dundee development
Dundee City Council has appointed a preferred partner for a £40 million mixed-use development opposite the new V&A Museum as part of its Waterfront Masterplan. Robertson Group plan to progress the proposals for site 6, which include residential apartments, offices and a 120-bed hotel.
28-storey hotel plans for Edinburgh Waterfront
Hodder Planning has held a public consultation on behalf of Resolution Property for plans to add a 28-storey hotel at the Ocean Terminal shopping centre in Leith, Edinburgh. A planning application is expected to be made in March with construction following the selection of a hotel operator.
Other hotel investment activity:
- Motel One — confirmed three new UK hotels will be added to its portfolio, including Glasgow in 2018
- Apex City of Glasgow hotel — brings another 104 rooms to the city. Apex has a further five hotels in Scotland and three in London.
- Gleneagles Hotel — was recently sold to London hotelier Sharan Pasricha of Ennismore Investment Group for an undisclosed figure
- Cameron House — the five star luxury resort on the banks of Loch Lomond has been sold by CBRE to American investment firm KSL Capital Partners
- Total investment in the UK hotel market — hit £8.1 billion in 2015, the highest level since 2006, according to new Savills data
New route announced
Etihad and Qatar Airways have both opened up direct flights to the Persian Gulf from Edinburgh International Airport. The Qatari airline has also bought the four star Novotel hotel in Edinburgh Park.
Visitor numbers up in 2015
Overseas and domestic visitors to Scotland climbed to over 15.5 million — a 10 per cent increase over 2014. Domestic visitors to Scotland grew by eight per cent, against no increase in domestic visitors for Great Britain as a whole. Key points:
- Visitor spending — estimated at over £5 billion for the year
- US visitors — spending grew by 16 percent to £488 million
- European visitors — six per cent growth in numbers, and seven per cent spending growth
Glasgow and Edinburgh airports both recorded their busiest ever years in 2015, with Glasgow recording a 13% annual increase.
Why invest in Scotland?
Scottish Development International supports companies to invest or expand in Scotland. We can help identify and access funding, premises, R&D programmes, partners, investment opportunities, training programmes - in fact, just about anything.
- Top ranked — in 2014, Scotland was the top ranked UK region for foreign direct investment outside London (EY 2015 UK Attractiveness Survey)
- Academic excellence — our 19 higher education institutes work with over 26,000 companies every year to turn R&D into new products
- Foreign Direct Investment — in 2014 Scotland recorded its third consecutive record year for FDI
- Scottish Resorts — show an increase in RevPar of 2% in December 2015
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