And with the European Sports Championships on the horizon in 2018, Glasgow’s hospitality sector is once again gearing up for action.
Hugh Boyle, head of hospitality and tourism at Johnston Carmichael, said: “The international stature of Glasgow 2014 gave the city a chance to shine in front of millions.
“A number of new hotels established themselves in Glasgow ahead of the games and many existing hotels were refurbished to put Glasgow’s best foot forward and meet demand.”
A number of big hotel chains have moved into Glasgow in recent years including Village Hotel, Travel Lodge and ibis Styles Hotel –and the trend is continuing, with more looking to enter the market.
Despite fears there would be a flat period after the games, this has proven to be far from the case. Hugh said: “Occupancy levels are still high and many are surprised at how consistently buoyant the hospitality sector has been since 2014.
“The continuing investment in Glasgow from big brands moving in, or looking to move in, is a real vote of confidence for the city. Take Edinburgh-based Apex Hotels as an example, they refurbished the former Marks Hotel in Glasgow and opened its doors in October last year.
“Political uncertainty may have a knock-on effect in Glasgow’s hospitality sector as disposable income could be typically lower, impacting spending in bars and restaurants. However, it’s too early to say for sure how this will affect spending habits.
“In addition, changes to National Living Wage and auto enrolment for pensions is bound to have an impact on the hospitality sector where margins are already tight. The beauty of the sector, especially in Glasgow is how well restaurants and hotels weather storms and evolve to deal with different economic climates.”
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