Booming demand from visitors saw the values of Edinburgh’s top hotels rise by 6.3% last year, significantly higher than the European average. Figures from the European Hotel Valuation Index published this week by hotel consultancy HVS showed that values of four and five star hotels across Europe grew by 3.9% in 2017 compared with the previous year when values stood still on average.
“Business and consumer confidence, as well as GDP growth in Europe, are all riding high,” said report co-author Sophie Perret, director at HVS in London. “Hotel demand is strong in the majority of European markets, with low levels of new supply in most cities pointing to robust performances across the board.”
Europe’s most highly prized cities in terms of hotel values per room remain Paris, London, Zürich, Geneva and Rome.
Increasing demand for hotel rooms in Lisbon, one of Europe’s safest destinations, saw the Portuguese capital to top the HVI league table in terms of value growth for 2017, up 14.7% on the previous year, and its fourth consecutive year of double-digit growth.
London’s hotels grew in value by 4.3% in sterling terms on the back of a strong economy and the city’s on-going popularity with leisure and business travellers...