Scottish hotel investments reach £198m last year, despite pandemic

by XPRESS, 18 January 2022

Scotland's hotel sector seen steady growth despite the pandemic, with £185m invested in 2021 - up 166% from 2020 and 12% more from 2019.

Estate agents Savills said the total number of transactions that were made to date in 2021 had reached 18, with domestic buyers accounting for 54 per cent and overseas buyers making up the rest.

Key business that has been delivered in Scotland over the past year is the sale of the Macdonald Holyrood Hotel, purchase of the Scores Hotel, St Andrews, and purchase of the Bruntsfield Hotel Edinburgh.

It also highlighted companies looking to expand north of the Border, including Gleneagles Townhouse in the Scottish capital, W Edinburgh in the St James Quarter and Virgin Hotels arriving in Glasgow & Edinburgh city centres.

Gleneagles is also expanding, launching a private club in the heart of Edinburgh, which will also have 33 rooms.

Steven Fyfe, Savills "Scotland director of hotels, hailed the positive impact of the fact that Scotland was top of the guest list.