Glasgow has been named among the UK's most active areas for
hotel investment last year, according to analysis from
Knight Frank.
The firm's UK Hotel Capital Markets Investment Review 2020 found
that Glasgow was the most active city in Scotland, and third in the
UK outside London, with £170 million spent across nine
transactions in 2019, comprising more than 1,700 rooms.
John Rae, head of Knight Frank's Glasgow office, said: "It's
been a strong year for investment in Glasgow hotels - a reflection
of the fact it is emerging as a highly desirable tourist and events
destination. The arrival of the COP26 United Nations climate change
conference later this year is indicative of the scale of events
that Glasgow can now host and it's a huge opportunity to highlight
all the city has to offer.
"There are a substantial number of hotels rooms to be added in
Glasgow over the next few years, with a range of well-known and
boutique operators confirmed or planning new premises in the city.
As they come on stream, we expect hotel investment activity to
remain strong in the years ahead as investors increasingly look to
alternative property assets."