Are we nearing the end of the cost of living crisis? It might not feel that way, given the brutal high-street prices we face today because of the rampant of inflation of recent years. But one survey has offered some evidence that consumers are feeling a little better about things. Occupancy of luxury hotels in Scotland increased to 83.
8% August from 79.5% in the same month last year, compared with a rise to 76.1% from 72% on a UK-wide basis, according to the RSM Hotels Tracker: Focus on Asset Classes.
Mid-market hotels in Scotland also saw a rise in occupancy, to 87.8% in August from 86.5% in the corresponding month last year.
However, there was a reverse in fortunes in the budget hotels sector, which saw occupancy fall to 88.1% from 89.2% on the same comparison.
Read more: 'Pivotal moment' nears for Scottish hospitality industry Glasgow estate agent Corum reveals move into lettings market Rettie boosts team in Glasgow's 'buoyant' southside The report authors suggest the findings point to consumers having a little more money in their pockets, with UK budget hotels also seeing a fall in occupancy, to 79.8% from 83.4%.
RSM notes that the rising demand for stays in luxury hotels in Scotland sparked a rise in average room rates in the year to August, to £393.35 from £385.33.
Room rates also rose in Scottish mid-market hotels, to £164.69 from £149.11, and in budget hotels, although the rise was less pronounced in the latter, to £140.
59 from £140.38. “Despite some market un.