Hundreds of hotel rooms in Scotland’s capital Edinburgh are empty as a result of the credit crunch, according to local press reports.
Figures complied by business consultancy PKF and published by The Scotsman newspaper show that in the six months to the end of June, an average of almost 73% per of the city’s 8,000 hotel rooms were occupied at any one time – 3.5% lower than the same period last year.
The drop in occupancy in Edinburgh is much higher than the average drop seen across the UK, at 0.4%.
The sharpest decline has been in budget hotels but bad weather has also been blamed for less people coming to the city, writes the paper.
The general manager at the Holiday Inn Edinburgh, Philip Counsell, told The Scotsman: “Edinburgh has a higher base to fall, so that can make the drop sharper. It also has more of a reliance on the corporate and banking sectors, which are drawing costs in.”
A partner at accountant and business adviser PKF, Alistair Rae, points out that despite the drop, overall occupancy remains above the UK and Scottish average.
By Staff writer