More rooms at the Inn!

A recent survey by Savills indicates that the first 6 months of 2018 saw investment in Scottish hotels of £390m, double the total of the full year before.  Concerns over Brexit, a weak pound and the terrific weather has meant a tourism boom for Scotland as more people decide to stay at home for their holiday.

At EQ Leisure, we have completed 4 hotel purchase deals in the past 8 months with a value of £15m and have seen numerous refurbishment programmes as both corporate and individual hotel owners seek to improve the quality of their stock.  This has led to a significant spike in our advisory work with issues like business structuring, tax claims on capital expenditure and asset protection very much to the fore.  This increased level of activity extends to guest houses, holiday parks and all manner of leisure accommodation.

EQ Leisure partner, David Morrison, commented “Tayside and North East Fife have long been a hugely attractive area for tourists and the redevelopment of Dundee has seen a huge increase in interest in the area.  More visitors means more revenue for bars, restaurants and retailers and the effect is not just in Dundee, but much further afield.  Our job is to encourage our leisure sector clients to be ambitious and to provide them with the advisory support and experience to make a success of their investments”

If you’re seeking some expert leisure sector support, please contact our EQ Leisure team at leisure@eqaccountants.co.uk or contact one of our offices.