Hoteliers in Edinburgh are seeing some of the strongest performance of the year at the moment during one of the city's busiest annual events. Aside from August's Fringe Festival, the Six Nations, when the likes of England, Ireland and Wales' rugby fans descend on the capital, is one of the most hectic yet profitable months of the year for the tourism sector, and particularly those with hotels.
It is estimated that the Six Nations period will see some £30 million injected into the Edinburgh economy within the space of just over a month. In 2014, the visits of the likes of England and France to the city will mean more than 430 jobs being created in the likes of restaurants, bars, cafes, shops and in other key areas. However, it is the hotel sector that performs better than any other.
Hotels benefit from Six Nations
The Six Nations, according to RBS, will see the number of people looking for hotels in Scotland rise every year at this time of the year. In Edinburgh alone, the bank estimates that seasonally adjusted occupancy levels are up by a full quarter throughout this period of the year.
And hoteliers are not slow to look to capitalise on this demand rise, either, with many looking to take advantage of the chance to make a fantastic return on their investment when there are many people looking for somewhere to stay. Price comparison site Trivago said that during the tournament, and in particular in the lead up to Scotland's match against France at Murrayfield on March 8th, prices for Edinburgh hotel rooms rise by some 147 per cent.
However, even though prices are seeing a considerable rise, Edinburgh hoteliers are careful not to price themselves out of the market, and still represent somewhat good value for money. By way of comparison, Trivago said that hotels in Cardiff at this time of year will inflate their prices by an astonishing 250 per cent.
And with the Fringe Festival now just five months away, those hoteliers that are enjoying the swell in demand at the moment will be readying themselves for the further swell in demand that is likely to come from the swathes of tourists coming to the city from nations all over the world.
New developments set for Edinburgh
One result of the positivity that the likes of the Six Nations and the Fringe brings to Edinburgh is that more and more investors and hotel firms want to come to set up in the city every year - a testament to just how strong it is overall. This year is no different, with another two major hotels being slated for building in the next 12 months.
The first of these, the Ibis hotel on South Bridge, has just opened, and becomes the company's second hotel in the city, joining the already popular venue nearby on the Royal Mile. The 259-room building is located close to the tourist hubs such as the castle and the rest of the old city, as well as being situated in close vicinity to the shopping centres on the likes of Cockburn Street and Princes Street, both of which are within walking distance from the hotel.
In addition to this, Premier Inn is set to open yet another budget hotel in the centre of the city at some point in the next year and a half. The popular company is set to introduce the 159-room compact stay facility in the perpetually popular tourist hotspot of Rose Street, where many gather every August to enjoy the many traditional shops and pubs on offer.
With major chains coming to the city in the next few years then, and demand remaining high across the city at the current time, it shows just how strongly the Edinburgh hotel market is performing at some of the prime times of the year.
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- Thursday 06 March 2014