Hotel Investment opportunities – along the Borders Railway
Sam Smith, who works for the Borders Railway Blueprint group, which is working to promote the economic benefits of the new rail connection, spoke about hotel investment opportunities at an event in Edinburgh last month.
The half day seminar, which was hosted by Scottish Development International in partnership with GVA, was designed to provide information on how local authorities are promoting the delivery of new, quality hotels, which the aim of driving wider regeneration and economic growth.
The Borders Railway corridor masterplans at Tweedbank, Galashiels, Newtongrange and Stobhill/ Gorebridge; the Borders Innovation Park at Tweedbank and the Great Tapestry of Scotland Visitor Centre at Galashiels have all contributed to the area becoming a more attractive place to live, work and visit.
Sam spoke about what this might mean for the future development of the hotel sector in and around the Borders Railway corridor, and how to capitalise on this.
The Borders Railway Corridor Hotel Market Assessment report found two distinct markets opportunities – at the Northern Section in Midlothian, and the Southern Section in Scottish Borders, which create opportunities for both branded budget hotels and luxury country house and boutique hotels.
Early results are promising, with business tourism demand set to grow and good prospects for leisure tourism growth, as seen with rises in visitor numbers and visitor spend in both the Borders and Midlothian.