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Aberdeen hotels

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Aberdeen hotel up for sale against backdrop of market struggles

An Aberdeen hotel was included in a £130million portfolio of 10 UK hospitality properties that was put up for sale yesterday. But potential suitors could be put off at a time when room revenues in the north-east market are plummeting. The Hotel Collection, a group of properties owned by Dallas-based private equity firm Lone Star, has instructed Savills and Rothschild to find buyers for the portfolio, which notched revenues of £48million last year.

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Collapse in crude hits hotels

Aberdeen hotels have been hit by an 18% decrease in prices since the collapse in oil prices started biting at the start of the year, new figures have shown. The Hotel Price Index on room prices across the UK found that the Granite City was the hardest hit in the six months to June compared to the same period last year. Aberdeen room rates fell to an average paid per night of £97 from £118. Dundee followed with a rates decrease of 8% to £83 from £90 per night last year.