8% of the population but 13% of the hotel investment

Inverlochy-Castle

(c) Scottish Business News Network

As business and tourism boom in Scotland, we read in Insider today:

‘Investment into Scottish hotels doubled in the first half of the year to almost £400m, according to new figures. UK buyers were the biggest buying group, accounting for 41 per cent of activity, followed by Middle Eastern investors (22 per cent of transactional volume), Israeli investors (16 per cent), US investors (8 per cent), Canadian Investors (7 per cent), Singaporean investors (5 per cent) and German investors (1 per cent). Collectively, non-domestic investors continue to be the dominant player in the market.’

As in many other contexts, the Scottish situation seems more promising than that in the non-Scottish parts of the UK:

‘Looking at the UK as a whole, Savills research shows a total of £3.2 billion has been invested into hotels in the first six months of the year, with Scotland accounting for 13 per cent of investment in terms of value.’

Bottom of Form

https://www.insider.co.uk/news/scottish-hotel-investment-doubles-savills-13056200

Other 8% stories:

Only 8% of the population but 50% to 75% of the removal of highly toxic pollutants. How Scotland’s natural assets are helping rid British air of pollutants

8% of the population, nearly 9% of the exports but only 5.25% of the imports

Return of the meme? Only 8% of the population but Scotland has 21.7% of all independent renewable projects in the UK

Still 8% of the population but now 30% of UK food and drink exports?

8% of the UK population and 28% of living wage employers. More evidence that we are different enough to want to run the whole show?

With only 8% of the population, Scotland’s maritime sector accounts for 25% of the UK maritime sector’s (GVA) contribution to the economy and is 17.5% more productive than the UK marine oil and gas sector. Once more, too wee, too poor?

Once again, it’s the ‘8% of the UK population but much more of something good’ meme. This time it’s 33% of employee-owned firms in the UK

And on hotels:

More evidence of robust Scottish economy as hotel sector outperforms UK average

Scottish hotels outperform those in rest of UK: STV report good news for Scotland’s economy but fail to understand it

Value of top Edinburgh hotels grows significantly faster than rest of Europe

Forget, GERs and GDP, Scottish hotel investment soars by 60% in one year!

Scotland’s hotels a better investment than those in England or Europe: SNP Administration works?

 

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6 thoughts on “8% of the population but 13% of the hotel investment

  1. Ludo Thierry August 10, 2018 / 4:34 pm

    Hi John – Scotland has some wonderful hotels – but also some pretty impressive hoteliers. See edit below (from Stornoway Gazette longish – but interesting read) re. the fantastic efforts of a local Guesthouse owner with the active support of his SNP MP to bring gas-price justice to his island neighbours. This is an example of the new and better Scotland in action. Strangely enough I haven’t heard it being covered by beeb Scotland! – can’t think why:

    https://www.stornowaygazette.co.uk/news/fight-to-gain-better-gas-deal-for-islanders-1-4782032

    Local consumer champion Derek McPherson has fought a long-running battle with Scottish Gas to win Islanders access to their range of tariffs and now he wants to see the company pay compensation to Stornoway customers.

    With encouragement and support from Western Isles MP Angus MacNeil, Derek has led the charge in ensuring Islanders are now aware that they can access a range of tariffs from Scottish Gas, which could save them money.

    The twists and turns of this story are still unfolding, but a maze-like tangle of information revealed during the progression of Derek’s fight, underlines the hurdles faced by consumers when looking for the best energy deal.

    The first indication of unfairness to Island consumers was identified by Derek, who owns the Fernlea Guest House on Matheson Road, in 2012 after a conversation with his sister about the “ridiculously high” price of gas.

    After asking Scottish Gas about the inconsistency he was told that Stornoway customers could only access one tariff specific to Stornoway (piped propane standard tariff), as the cost of bringing gas to the Islands was so high, that Scottish Gas was already “heavily” subsidising its customers here.

    Derek accepted this seemingly reasonable explanation and continued on the same tariff with the company, but he pursued a conversation with the energy provider about available tariffs.

    In the meantime, Derek had become aware of an even better deal being offered by Scottish Gas under the title ‘The Sainsbury’s Energy Tariff’, which was initially sold through UK Sainsbury’s stores – hence the title.

    Derek repeatedly called up and asked to be put on to the tariff, but was continually told “Sainsbury’s don’t deliver gas to Stornoway” and therefore the tariff was not available to customers here. Derek asked for that information in writing, which he was given, on three separate occasions. Once again it seemed as if Stornoway customers were unable to access the best deal due to our geography and the “high price of transporting gas to the Islands.”

    But in a twist to this tale, Derek and Western Isles MP Angus MacNeil discovered, that in fact, neither Scottish Gas, or Sainsbury’s, transports gas – or bear the associated cost of doing so – to Stornoway. When the gas market was opened up in the mid-1990s a new system of transporting gas to the Islands was implemented. Run by Ofgem – a tiny levy (a fraction of a penny) is applied to every unit of gas sold in the country – these funds are used to pay for the transportation of gas to Stornoway and other geographically challenged areas through private companies (Scotland Gas Networks supplies Stornoway). Scottish Gas does not pay for the transportation of gas to Stornoway – every gas consumer in the country does via the ‘Socialisation of Gas Transportation’ levy. So from the mid-90s onwards Scottish Gas was making a substantial saving, which could have been passed on to its Stornoway customers. But it seems the status quo of only one tariff for Stornoway customers continued.

    The fly in the ointment for Scottish Gas was that the deal to lift the burden of cost from them to transport gas to the town had a stipulation – it had to offer all tariffs to its Stornoway customers.

    In Derek’s case, the Sainsbury’s tariff would have saved him £600 per annum (he has since been offered £1,545.62 for the savings he should have had between March 2013 and December 2016).

    But should these customers – believed to be around 1,546 in Stornoway – be offered compensation for the savings they were not able to access? That question is not in doubt for Derek, who despite his own offer of compensation, vowed to continue the battle for as long as it takes.

    “There is nothing wrong with companies offering energy at a particular price, but it is unacceptable when people are incorrectly prevented from making savings whilst the rules clearly state they should be able to access more economic tariffs, especially in a town that is also one of the highest in the league of fuel poverty! Well it is for those reasons that I said ‘I’m not going to tolerate this!’

    Liked by 1 person

    • Contrary August 10, 2018 / 7:13 pm

      Aye, that is fabulous news reporting Ludo, as ever, thank you for finding these snippets for us. Though, I do quite like having a one-stop shop in John’s blog for getting Ludo-news too, laziness on my part possibly. It could be a bit lonely out there setting up your own blog too, but certainly you have the skills for it.

      What a bunch of charlatans the power companies are eh? That’s what happens when you allow private companies free rein with minimal government oversight, long may Westminster fester. I’ve had Scottish power badgering me constantly for years ,,, well, months probably,,, to get a smart meter – I don’t want one of theirs, I don’t need it, why should I have it? Jeezo, I stick the kettle on the stand and watch my meter whirring around! Are there not enough ‘smart’ technology things invading our lives as it is? Anyway, those are my personal objections – when it becomes a tried and tested piece of kit that everyone has, fine, invasive as it is, but not before. Then on the radio this morning (this may or may not be true, of course) they said there are flaws with the first generation smart meters and the full roll out is being halted for now. Hah! How smug and justified do I feel 🙂

      Liked by 1 person

    • Alasdair Macdonald August 11, 2018 / 12:04 pm

      An excellent piece of reporting, Ludo. Again, we have to ask why this was not picked up by press and broadcast media across the UK. It is a classic David and Goliath type story, ‘the little man against the business behemoth’. These kinds of stories have run in newspapers across the world since print journalism began. Irrespective of one’s political affiliations, this is simply a fine news story.

      Of course Scottish Gas should repay all customers in Stornaway from the start of the deal and have a hefty ex gratis payment on top.

      Further, there should be an enquiry into whether the same situation applied to all Scotland’s islands.

      Liked by 1 person

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