SCOTTISH HOTELS CONTINUE TO LEAD REST OF UK
Scotland's hotel sector remained buoyant in August, according to the latest monthly survey by accountants, PKF. Despite a decrease of 0.2% in occupancy in Scotland, Scotland witnessed an increase of 6.8% in rooms yield, compared to a UK average of 2.4%.
Rooms yield grew most significantly in Aberdeen, rising by 10.8% despite a 4.7% fall in occupancy. In Glasgow and Edinburgh, rooms yield grew 8.1% and 6.5% respectively, while occupancy rates fell by 1.0% to 87.7% in Glasgow and rose by 1.1% to 91.5% in Edinburgh.
'The continued success of Scottish hotels indicates that this is likely to be a record year for the hospitality sector,' says Alastair Rae, a partner in the Hospitality and Leisure sector at PKF. 'The Edinburgh festival in August continues to bring in the crowds, and the sector, so far, seems to remain immune to any negative impact from potential concerns over a recession or interest rate rises. This is probably due to it being more business- than tourist-orientated. It is uncertain at the moment whether the fallout from the US credit crunch coupled with the consequent knock-on effects on the UK banking sector will impact on the hospitality sector in the months to come. For the moment, however, the sector is buoyant and thriving and that is welcome news.'
Rooms yield grew most significantly in Aberdeen, rising by 10.8% despite a 4.7% fall in occupancy. In Glasgow and Edinburgh, rooms yield grew 8.1% and 6.5% respectively, while occupancy rates fell by 1.0% to 87.7% in Glasgow and rose by 1.1% to 91.5% in Edinburgh.
'The continued success of Scottish hotels indicates that this is likely to be a record year for the hospitality sector,' says Alastair Rae, a partner in the Hospitality and Leisure sector at PKF. 'The Edinburgh festival in August continues to bring in the crowds, and the sector, so far, seems to remain immune to any negative impact from potential concerns over a recession or interest rate rises. This is probably due to it being more business- than tourist-orientated. It is uncertain at the moment whether the fallout from the US credit crunch coupled with the consequent knock-on effects on the UK banking sector will impact on the hospitality sector in the months to come. For the moment, however, the sector is buoyant and thriving and that is welcome news.'
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