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Confidence ‘beds‘ down in the region‘s hotel and leisure sector
Tourism remains a major driving force in the growth and economic strength of the south of England. Visitor hot spots like Winchester, The New Forest and stunning South Coast resorts including Bournemouth and Poole attract visitors to the region from across the UK and overseas. Their combined appeal has helped the hotel and leisure industry remain in a good place despite the recent challenges of the recession, writes Ian Newman, RBS relationship director, hotels and leisure
That is not to say things haven‘t been tough as consumers tighten their belts with many hoteliers witnessing a drop in occupancy rates post recession. However the strength of our historical and coastal beauty locations, along with many sports events and festival-driven tourist attractions make the region unique and we are seeing a rise in hotel and leisure sector activity.
International visitors continue to
contribute highly. New tourism figures revealed by Visit Britain for the first six months of 2015 showed 16.8 million people visited the UK between January and June 2015. This is a 5% increase year on year for the same period in 2014 and is a record for UK tourism.
Innovation and quality are key drivers to success and our experience of working with independent hoteliers is that business confidence is high.
Bournemouth hotel acquired by new owner
The Hermitage Hotel in Bournemouth has been acquired by local businessman David Young. RBS provided a seven- figure funding package to support the purchase.
Young has operated hotels in Bournemouth for more than 25 years and has recently added The Hermitage Hotel on Exeter Road to his portfolio. This acquisition complements his two existing hotels in Bournemouth: The Trouville Hotel on Priory Road and The Park Central, also on Exeter Road.
Offering four-star luxury, The Hermitage Hotel is situated in a prime location opposite Bournemouth Pier, the beachfront and the Bournemouth International Centre (BIC). With 75 en-suite bedrooms, many with sea views, and an AA Rosette for food excellence, The Hermitage is
perfect for private and business clientele alike.
Young commented: “I have always been keen about conducting business in the Bournemouth area and was thrilled to secure the purchase of The Hermitage with its stature, plus having, arguably, the best location in Bournemouth.
“RBS has supported my expansion over the years and its latest investment will enable me to secure the future of a reputable hotel.“
Ian Newman, hotels and leisure relationship director at RBS, added: “David has a longstanding relationship with us at the bank and thanks to his experience in the leisure industry and his business acumen we are in no doubt The Hermitage will benefit from his investment. We wish him well as he builds on his successful portfolio.“
Ian Newman RBS (left) and David Young outside The Hermitage Hotel
Details: Ian Newman Relationship director hotels and leisure, Corporate Banking, Solent and Wessex, Future Williams & Glyn team, Royal Bank of Scotland 07803-025662
ian.newman@
rbs.co.uk rbsbusinessconnections.co.uk
Security may be required. Product fees may apply. Over 18s only.
ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER DEBT SECURED ON IT
www.businessmag.co.uk THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – OCTOBER 2015
Many are investing in new facilities and are committed to offering the best level of service. It is vital to stay ahead of the competition. We are seeing a rise in expansion plans through acquisition or renovation as hotel owners adapt to the fast-moving demands of consumers both from the UK and overseas.
At Royal Bank of Scotland we are delighted to support the hotel and leisure sector and work with a variety of customers locally from small independents to larger operators. We recognise the importance of investing in local businesses that are at the heart of the British economy. Their success is key to growth and prosperity and what‘s good for the economy is good for everyone.
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