Hotel Business News - Europe.

Position:Company overview

New York, Geneva (AirGuideBusiness - Hotel Business News Europe) Apr 8, 2012

Scottish Cities Among Leaders in Europe Hotel Occupancy Rates With five cities in Scotland among the top 10 European cities with the highest hotel occupancy rates during 2011, Scotland is heating up as a prime destination for luxury hotel investment. Edinburgh had the second-highest occupancy rate (80.1 percent) in Europe during the past year, outstripping Paris, Rome and other major cities. During the month of August, Inverness, Glasgow and Dundee joined Edinburgh to hold the top four spots in European hotel occupancy. Edinburgh also ranked in the top 10 European cities in revenue per available room (RevPAR) in 2011. "Demand for four- and five-star hotels in Scotland has outstripped supply," said Kenneth Clark, head of tourism at Scottish Development International, the government economic development agency that works with developers, investors and operators to maximize the opportunities Scotland provides. "We believe that the Scottish hotel industry has the potential to generate one of the highest returns in Europe with an increase in investment in the luxury-end of the market and we're ready to work with investors who want to capitalize on the huge potential the Scottish hotel sector is showing. OScotland's pre-eminence as a tourist destination is clear from the fact that we are outperforming many of the world's most established tourist centers on room sales," Clark said. "However, to surpass them on overall returns, we need to add to our selection of quality, luxury hotels in order to increase our revenue per available room (RevPAR). This presents a great opportunity for long-term investors to benefit from Scotland's quality assets and growing status as a global tourist destination. The demand is there. We just need to source the investment to meet it." As Scotland gears up for an influx of tourists over the next few years with the Commonwealth Games, Ryder Cup and 2012 Olympics all coming to the U.K., top hoteliers and developers have already been investing in the country. U.S.-based Southworth Developments Ltd. has been investing in a 120-acre property in Machrihanish. The development includes the first new 18-hole golf course to open in Scotland in 100 years, redevelopment of the Royal and Ugadale hotels and golf village apartments. Edinburgh, the historic Scottish capital, has been red hot for investment, according to Clark. In January 2012, Marriott...

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