Hilton sale boosts hotel market
Written: 27th May, 2008
THE sale of Edinburgh's Caledonian Hilton Hotel has helped the Scottish hotel market remain strong over the last year, according to business agents Christie & Co.The agents said the £51.7 million deal for the Hilton was one of the reasons behind the Scottish hotel market remaining relatively strong, with demand for quality, well-located hotels still high.According to industry figures, Scotland experienced the best hotel performance of the UK countries for the nine months to the end of September 2007, with RevPAR growth across the country of 8.9 per cent compared to the same period in 2006. Stuart Ferguson, director at Christie & Co, said: "Although the market is undoubtedly more challenging than during 2007, there is still plenty of demand from potential buyers looking for the right opportunity."
Source Scotsman.com