ten WELCOME TO 5th one Best GLASGOW billion 4th INVEST IN GLASGOW 82.1 % with rev par reaching and ADR at New

Transcription

1 HOTEL PROSPECTUS

2 WELCOME TO GLASGOW Scotland s largest city has a fully rounded economy which generates travellers for commerce, leisure, conventions and events year round. This is not a seasonal city with an August peak, it is a flourishing destination where hotels enjoy year round high occupancy. Glasgow s modern, diversified economy has strengths in a variety of sectors and sub-sectors including financial and business services, digital technology, engineering and high value manufacturing, higher and further education, low carbon, life sciences and tourism and major events. Glasgow is the UK s third largest financial centre and ranks in the top 50 in the world. It is home to some of the biggest names in global business and finance such as JP Morgan, Morgan Stanley, HSBC, Barclays Wealth, Clydesdale Bank HQ and Santander. The city is also the powerhouse of Scottish Life Sciences and home to international leaders in precision medicine, medical technology, clinical and translational medicine and pharmaceutical services. An impressive range of global brands have chosen to locate their business in Glasgow, including Jacobs Engineering, Fraunhofer Gesellschaft, Iberdrola, Lockheed Martin, ReproCELL Europe Ltd, Dell and O2. As a result, corporate business travellers represent nearly one third of hotel room occupancy in Glasgow. THE GATEWAY TO SCOTLAND Glasgow s reputation as a tourism, convention and events centre is well founded. A host of world-class hotels can be found in the city. These include Hilton, Marriott, Radisson Blu, Crowne Plaza, Hotel du Vin, citizenm, Malmaison and Dakota Deluxe. Glasgow s Tourism and Visitor Plan to 2023 sets out a clear direction for continuing to build the city s global profile as a successful tourist destination and is focused on increasing overnight leisure tourism visits by one million over the next six years. Achieving three million overnight visits per year by 2023 will deliver an economic boost of 771 million and contribute an additional 6,600 jobs in the city. At the same time, Glasgow will position itself as the Gateway to Scotland to stimulate tourist numbers and spend more widely across the country. WORLD CLASS BUSINESS TOURISM Glasgow has the capacity and credibility to welcome more conference delegates than every other Scottish city combined, making it a premier European business tourism destination. During the 2016/17 financial year, Glasgow secured 526 conferences for future years through to 2022, with bids in place until This will bring an additional 140,000 business tourists to the city and contribute an estimated 142m to the local economy over the next five years. The number of international associations choosing Glasgow annually as their conference destination has risen 63% from 43 to 70 between April 2012 and March this year with 2016/17 reflecting the most successful year yet. There are nearly 9,000 rooms in the city, with an average occupancy rate of 82.1% (STR Global 2017). A range of exciting new developments either opening soon or planned from hotel brands including Radisson RED, Motel One, ibis Styles, The Anchor Line, Adina Apartment, Clayton, Maldron, Meininger and Moxy. In 2018 Glasgow will add nearly 1,000 hotel rooms to its accommodation stock. However, as a major event hot-spot, more hotel rooms are required to meet current and future demand in the city. THERE HAS NEVER BEEN A BETTER TIME TO INVEST IN GLASGOW Glasgow s profile as a top international tourism destination has gone from strength to strength. Business tourism, world-class retail, major attractions and global events are all driving demand for additional hotel rooms. The city is now widely recognised as one of the world s best destinations and is number 10 in the New York Times top 52 places to go in #1 Hotel occupancy and revenues at record highs occupancy is at 82.1 % with rev par reaching and ADR at UK s first UNESCO City of Music hosting 130 music events every week Number one Scottish city for FDI and ranked 5th in the UK (2016) 1st ever Convention Bureau to receive a Green Tourism Award (2017) Ensuring world class customer service with its industry-led initiative Glasgow Welcomes Over 15 billion 2.2 million tourists capital investment since 2011 generating 619 million (2016) Hotels regularly outperform key European competitors including Paris, Rome Barcelona, Vienna and Amsterdam First-choice host for major international events and conferences. Confirmed business until 2022 and bidding for business up to 2026 Top in the UK for retail spend outside of London s West End ( 4.2bn spend) (HDH 2017) SSE Hydro is ranked top global venue (Billboard) and 3rd in the top 100 Worldwide Arena Venues (Pollstar) 10 2 hr Most European destinations are within 2 hours of Glasgow, offering short journey times and low cost travel ten Number in the New York Times top 52 places to go in th in the world for sustainable business tourism (Global Destination Sustainability Index 2017) 5th Best Sporting City in the World New direct routes for 2017/18 include New York, Frankfurt, Munich, Toronto, Madrid and Krakow, opening Glasgow up to even more visitors Rough Guides voted Glasgow the world s friendliest city (2014) with Scotland voted the most welcoming country in the world (2017) 2 / HOTEL PROSPECTUS INVESTGLASGOW.COM \ 3

3 WHY GLASGOW? With a can-do attitude, a commitment to being the most business-friendly city in the UK, and more than two million visitors a year it is people that make Glasgow different. OPEN FOR BUSINESS Top businesses choose Glasgow for many reasons. They say it is because of the quality and loyalty of the flexible and qualified workforce, the cosmopolitan feel of a large city, great access, world-class and cost-effective office space and one of the most sophisticated and competitive telecommunications environments in Europe. Highly qualified and flexible workforces it is what every employer needs. Glasgow is one of Europe s top ten cities for business friendliness and connectivity. fdi Magazine s runner up in the Top Large European City for FDI Strategy (2018/19). Number one city in Scotland for FDI and ranked 5th in the UK (2016). Since 2011, the city has received more than 15 billion in capital investment across housing, retail, health, education, hotels, offices, leisure and industrial space. The first Scottish city to secure City Deal funding from the UK and Scottish Governments billion will fund major infrastructure projects and drive innovation, whilst levering in 3.3 billion of private investment. An economic powerhouse Glasgow city region generates 43 billion gross value added (GVA) every year to Scotland s economy. Generating 47,513 GVA per job filled, Glasgow has the 2nd highest level of productivity of the 10 UK core cities (2015). Excellent transport links the city is served by three international airports with direct flights from over 150 destinations. Once you arrive, getting about is easy by road and rail. Office, leisure and retail space to suit every type and size of business and exciting new development opportunities too. KEY SECTORS Glasgow s Economic Strategy was launched with the prime objective of making Glasgow the most productive major city economy in the UK. Alongside this, the strategy has set an ambitious new jobs target of 50,000 by Glasgow has one of the largest city economies in the UK and the key to this success is the diversity of its business and industry base and its highly skilled workforce. Economic and productivity growth is focused on 8 key sectors: Digital Technology Financial and Business Services Creative Industries Low Carbon Health and Life Sciences Engineering, Design and Advanced Manufacturing Tourism and Events Higher and Further Education # 1 50 Number one Scottish city for FDI and ranked 5th in the UK (2016) New jobs target of 50,000 by 2023 Home to Scotland s first two innovation districts FORWARD-THINKING CITY Scotland s economic powerhouse is setting its sights on becoming the most innovative and productive city in the UK. It is: A leading city for renewable technology by using its historic strengths in engineering and education, to deliver a low carbon economy that will deliver a greener environment for its residents and visitors. Keeping pace with emerging trends including the provision of flexible co-working space, buildto-rent city centre living while future-proofing investment through enabling infrastructure, smart technologies and world-class digital connectivity. Meeting and exceeding the most demanding digital technology requirements of its modern business community. The Gigabit City fibre network is transforming the city s digital infrastructure, supporting internet connectivity of up to 100 times faster than the UK average. The state-of-the-art network will future-proof the city as the demand for greater bandwidth continues to grow. Establishing Scotland s first two innovation districts in Glasgow s West End and Merchant City to encourage business clusters and to stimulate growth in the Life Science and Higher Education sectors. These will maximise the benefits of existing high value industries including pharmaceutical manufacturing, distributed energy, photonics, bio-nano technology, and aerospace manufacturing. Delivering exciting City Deal projects, with over 100 million of city centre investment underway with the Avenues Project which will see Glasgow s major city centre streets revitalised to improve connectivity, infrastructure and streetscapes through installation of intelligent lighting schemes, new paving, traffic calming measures and tree planting. Setting its sights on becoming one of Europe s most climate-ready regions. Communities across the region are being transformed and future-proofed as a result of investment in green networks incorporating sustainable urban drainage, as well as large-scale flood prevention schemes. Creating a smart business environment with world-class facilities that support future savings and efficiencies for any business to flourish. 4 / HOTEL PROSPECTUS INVESTGLASGOW.COM \ 5

4 BUSINESS TOURISM Glasgow is the conference capital of Scotland, with the capacity to host more conferences and welcome more delegates than Scotland s six other cities combined. In May 2017, reflecting Glasgow s position as a conference powerhouse, ICCA reported that Glasgow attracted more international delegates in 2016 than major competitors including the likes of Geneva, Sydney, San Francisco and Johannesburg and held more international conferences than Zurich, Frankfurt am Main, Moscow and The Hague. Glasgow s tourism business is not seasonal; with a year-round conference calendar, Glasgow is always open for business. Conference delegates spend significantly more than short break tourists and are high yield individuals. A quarter of all delegates (25%) are from out-with the UK and contribute to RevPAR growth. Conference activity in Glasgow is led by the Glasgow Convention Bureau at Glasgow Life working with a range of city and national partners, from VisitScotland, the SEC and NHS Greater Glasgow and Clyde to Glasgow s higher education establishments and the wider business community (including Glasgow Chamber of Commerce, Greater Glasgow Hotels Association, Glasgow Restaurant Association, Glasgow Taxis, and ScotRail). In the 2016/17 financial year, Glasgow won 526 new international and UK conferences through to 2022 worth 142 million the city s best ever annual return. A key component of Glasgow s success is the growing strength of the city s Conference Ambassador Programme the first of its type in the UK. Managed by Glasgow Convention Bureau at Glasgow Life, it supports in excess of 1,700 influential active ambassadors drawn from the city s academic, scientific, medical and business communities enabling them to persuade their own sectors and associations to host a conference in Glasgow. In 2016/17, the programme contributed almost half (44%) of all conference business won by Glasgow compared to just 30% three years ago. MAJOR CONFERENCE BUSINESS INCLUDES THE: 2018 Joint European Conference on Computational Mechanics and Fluid Dynamics 2018 World Congress of Pharmacy and Pharmaceutical Science 2018 International Congress of the World Federation of Hemophilia 2018 European Congress on Emergency Medicine 2019 European Society of Paediatric Gastroenterology Meeting 2019 World Congress of the International Association for the Scientific Study of Intellectual Disabilities 2020 Forum of European Neuroscience Societies 2021 International Conference on Oral and Maxillofacial Surgery 2022 British Association of Dermatologists Meeting SCOTTISH EVENT CAMPUS (SEC) AND THE SSE HYDRO The opening of The SSE Hydro on the Scottish Event Campus (SEC) in Glasgow has boosted the city s major event and conference credentials even further. With a total capacity of 12,500, The SSE Hydro hosts around 140 events every year (from national and international music mega stars to global entertainment, sporting events and exhibitions) and has the potential to inject 131 million annually into Glasgow s economy. The SSE Hydro is ranked first in the global Billboard Chart Top 10 Venues Index ahead of Hallenstadion in Zurich, the Mercedes-Benz Arena in Berlin and Brisbane Entertainment Centre, Australia as well as third in Pollstar s Top 100 global arenas list ahead of Madison Square Garden in New York and the Ziggo Dome in Amsterdam reinforcing its reputation as one of the top arenas in the world today. This has significantly increased visitor numbers to the SEC to over two million per year. These visitors need to be accommodated and with occupancy levels at an all-time high, there is an exceptional investment opportunity for additional hotel development in Glasgow. The SSE Hydro hosts around 140 events a year 11 Glasgow has been named the UK s Best Convention Bureau for a record-breaking 11 consecutive years at the prestigious M&IT Awards ( ) 6 / HOTEL PROSPECTUS INVESTGLASGOW.COM \ 7

5 MAJOR ATTRACTIONS & GLOBAL EVENTS Glasgow museums are free and attract millions of visitors every year. Glasgow s Riverside Museum was awarded 2013 European Museum of the Year, the first time a Scottish museum has been awarded the prestigious accolade Merchant City Festival 150,000 Celtic Connections 119,364 81,300 Glasgow International Comedy Festival ESTIMATED ATTENDANCES AT MAJOR EVENTS IN GLASGOW IN ,100 40,100 39,079 32,000 29,400 27,300 27,000 18,000 10,731 5,900 Piping Live! Glasgow Film Festival World Irish Dancing Championships World Pipe Band Championships UDO World Street Dancing Championships Bank of Scotland Great Scottish Run Ignition Festival of Motoring BBC6 Music Festival Andy Murray Live All Scotland Irish Dancing Championships Provand s Lordship 87,573 Riverside Museum 1,265,773 The Burrell Collection 93,937 City Halls & Old Fruitmarket* 108,083 St Mungo Museum 139,105 Tramway 187,958 People s Palace 284,304 Glasgow Royal Concert Hall* 317,881 MOST POPULAR VISITOR ATTRACTIONS IN GLASGOW 2016/17 *Music attendance figures relate to commercial events. Kelvingrove Art Gallery and Museum 1,264,000 Gallery of Modern Art 645, MAJOR EVENTS: Bank of Scotland Great Scottish Run Celtic Connections European Championships 2018 Glasgow Film Festival Glasgow Indoor Athletics Grand Prix Glasgow International Festival of Visual Art Glasgow International Comedy Festival Great Women s 10k Merchant City Festival TRNSMT Piping Live! UDO World Street Dance Championships World Irish Dancing Championships World Pipe Band Championships 2019 MAJOR EVENTS: Glasgow Film Festival Glasgow Live International Comedy Festival European Indoor Athletics Championships 2019 World Pipe Band Championships Solheim Cup Royal National Mód European Short Course Swimming Championships 8 / HOTEL PROSPECTUS INVESTGLASGOW.COM \ 9

6 SPORTS CITY Glasgow s rise as one of the world s top sporting cities has been secured thanks to the city s investment in world-class facilities, its international events programme, commitment to increasing participation and leaving a lasting legacy for future generations. Glasgow has sporting events confirmed to 2022 and is bidding through to It has continued its meteoric rise up the global rankings of the world s top sporting cities after climbing three places to rank 5th in the world at the prestigious 2016 SportBusiness Ultimate Sport City Awards. Building on the success of delivering the Best Commonwealth Games ever in 2014, Glasgow also hosted the 2015 IPC Swimming World Championships and the World Artistic Gymnastics Championships which were hailed even better than the Olympic Games. In 2017, the city also successfully delivered the World Badminton Championships. Glasgow s delivery of these events has set a new benchmark for sport across the world. Looking ahead, Glasgow continues to win the right to host major sporting events and will deliver the inaugural European Championships in partnership with Berlin in 2018 with a projected television audience of more than one billion viewers. The event will bring together the existing championships in athletics, aquatics, cycling, gymnastics, rowing and triathlon, along with a new team golf event, into one coordinated multi-event in August A significant legacy of hosting these prestigious sporting events is that Glasgow s reputation and profile have never been stronger. The city is now widely recognised as one of the world s must-visit destinations. CLYDE GATEWAY Located just five minutes by train from the centre of Glasgow and in an area benefiting from massive investment associated with the 2014 Commonwealth Games, Clyde Gateway offers a range of potential investment opportunities for the hotel sector. Clyde Gateway is home to the outstanding sporting facilities of the Emirates Arena and Sir Chris Hoy Velodrome, as well as Celtic Football Club s 60,000 seat stadium. The area s accessibility by both road and rail is already proving a major draw to investors with 3 railway stations and 3 junctions of the newly extended M74 as well as the new Clyde Gateway access road serving the area. A host of new office and industrial developments have opened recently to take advantage of this accessibility, others are currently on site and development opportunities are available across the new National Business District. 5th Best Sporting City in the World 2 billion of investment in Games-related infrastructure 10 / HOTEL PROSPECTUS INVESTGLASGOW.COM \ 11

7 SCALE OF OPPORTUNITY In 2016 Glasgow attracted 2.2 million international and domestic tourists, generating 619 million for the local economy. Glasgow s key international visitor markets are the USA, Australia, France, Germany and Canada. WHY PEOPLE VISIT... AND RETURN Glasgow is ranked number one UK retail destination for spend outside of London s West End. Over half a million square metres of retail space can be found in the city, with prime and super prime shopping to be had within one square mile in the city centre, known as the Style Mile. Buchanan Street, Glasgow s premier shopping street, is the busiest high street in the UK, after London, with an annual footfall of 57 million people. Annually Glasgow generates 4.2 billion retail spend and 862 million GVA. SKILLED WORKFORCE In fact, more people work in tourism in Glasgow than any other Scottish city. 30,000 people work in Glasgow s tourism industry, representing 14.5% of the total tourism-related workforce in Scotland. In addition, 130,000 students are looking for work whilst they study in the city, over 7,000 of these TOP 10 UK DESTINATIONS FOR OVERSEAS VISITORS Office for National Statistics: International Passenger Survey (IPS) 2016 London 1 19M Edinburgh 2 1.6M Manchester 1.2M 3 Birmingham 4 1.1M Liverpool 5 671,000 Glasgow 6 659,000 Oxford 7 586,000 Bristol 8 570,000 Cambridge 9 498,000 Brighton/ Hove ,000 Scotland 5,400,000 POPULATION Glasgow 615,000 Glasgow City Region 1,800,000 Source: National Records of Scotland are studying hospitality, leisure and tourism related courses. Led by the industry, the city is investing to deliver truly world-class customer service, through the Glasgow Welcomes Tourism Service Initiative. This will ensure a highly qualified skills supply for the tourism industry. Glasgow is the 6th most visited UK city by international tourists and ranks ahead of Oxford, Bristol, Brighton, Cambridge, Leeds, York, Cardiff and Newcastle In 2016, the majority of international tourists to Glasgow cited holidaying (41%) as the reason for their trip, while over a quarter visited friends and relatives (30%) and 21% were business travellers. In 2016, international tourists stayed for 3.3 million nights while UK visitors stayed for 3.8 million nights. On average, international visitors stay for 4.9 nights whilst UK visitors stay for 2.4 nights. Spend (Millions) Visits (000s) USA 51 Canada 26 Australia GLASGOW S TOP 10 INTERNATIONAL VISITOR MARKETS BY SPEND (2016) Germany Netherlands 11 France 7 UAE India Norway USA 102 Germany ranking / international market Poland China GLASGOW S TOP 10 INTERNATIONAL VISITOR MARKETS BY VISITS (2016) Canada France Australia Netherlands 35 Spain ranking / international market Italy UAE 12 / HOTEL PROSPECTUS INVESTGLASGOW.COM \ 13

8 GLASGOW S VIBRANT HOTEL MARKET Upscale, Upper Upscale & Luxury+ 25 KEY STATISTICS 2017 ACCOMMODATION BY RATING 39% 39% Upscale, Upper Upscale & Luxury+ 3,305 Glasgow s robust hotel market includes almost 9,000 rooms within the Glasgow City boundary with 15 hotels in the city centre offering over 150 bedrooms. New supply since 2015 has added 6 hotels bringing an additional 685 rooms will see the opening of a further 5 new hotels adding nearly 1,000 new rooms to the existing stock. Economy, Midscale & Upper Midscale+ 39 HOTELS 61% BEDROOMS 61% Economy, Midscale & Upper Midscale+ 5,247 The city has also seen substantial investments in the Marks Hotel which converted to the Apex City of Glasgow Hotel and the former Thistle Hotel which converted to the DoubleTree by Hilton Glasgow. These conversion investments are important to note as they are not classified as new deals or developments but they highlight a clear vote of confidence in the Glasgow market. In terms of hotel demand, Glasgow has delivered another set of impressive results for 2017 with ABODE ANCHOR LINE APEX BLYTHSWOOD CROWNE PLAZA HILTON GARDEN INN LEONARDO NOVOTEL DAKOTA DELUXE HILTON LORNE HOTEL PARK INN BY RADISSON DOUBLETREE BY HILTON HOLIDAY INN HOLIDAY INN EXPRESS average figures for Hotel Occupancy at 82.1% and both Average Rooms Rates (ADR) and Revenue Per Available Room (REV PAR) reaching and respectively. Glasgow also compares strongly to other European cities appearing in the Top 10 for average hotel occupancy rates. There are also a number of pipeline projects planned throughout the city bringing new brand arrivals such as Adina Apartment, Clayton, Maldron, Moxy and Meininger. SQUARE CAMPANILE CARLTON GEORGE GOGLASGOW URBAN GRAND CENTRAL COURTYARD BY CITIZENM MARRIOTT GRASSHOPPER HALLMARK HAMPTON BY HILTON HOTEL DU VIN IBIS IBIS STYLES INDIGO JURY S INN MALMAISON MAR HALL MARRIOTT MERCURE MILLENNIUM MOTEL ONE POINT A BEST WESTERN EASYHOTEL PREMIER INN RADISSON BLU RADISSON RED TRAVELODGE VILLAGE HOTEL CLUB MOXY Z HOTEL Occupancy 2017 average 82.1% RECENT NEW OPENINGS HOTEL GRADE BEDROOMS DATE PointA Hotel Glasgow Budget 122 Feb 17 Hampton by Hilton Glasgow Budget 88 May 16 Travelodge Glasgow Queen Street Budget 171 Apr 16 Dakota Deluxe Glasgow 4-star 83 Apr 16 ibis Styles Glasgow George Square Budget 101 Sep 15 Village Hotel Club 4-star 120 Jul 15 LATEST HOTEL SALES TRANSACTIONS HOTEL GRADE BEDROOMS DATE Jurys Inn (Jamaica Street) 3-star 321 Dec 17 Premier Inn (Sauchiehall Street) 3-star 210 Nov 17 Glasgow Pond Hotel 3-star 137 Jul 17 Travelodge Glasgow Central Budget 95 Oct 16 Travelodge Glasgow Paisley Road Budget 75 Oct 16 Holiday Inn Express Riverside Budget 128 Jun 16 Travelodge Glasgow Queen Street Budget 171 May 16 ibis Glasgow City Centre Budget 141 May 16 Mercure Glasgow 3-star 91 Sep 15 Hilton Garden Inn 4-star 164 Jun 15 Malmaison Glasgow 4-star 72 Jun 15 Average Daily Rate 2017 average Source: STR Global 2017 Historically we have seen more hotels transact as part of portfolios, however, we predict over the next months that there will be an increase in single asset transactions. This is also underpinned by the strong reputation for brands to secure representation in Glasgow, which is seen as a priority ahead of other UK regional cities. Investment into Glasgow in 2017 more than doubled, impressively rising from 16.8m in 2016 to 35.79m Steven Fyfe, Associate Hotels, Savills RevPAR 2017 average PIPELINE RADISSON RED Europe s first new build Radisson RED will open in Glasgow in April Located at Finnieston Quay, adjacent to the SSE Hydro and Scottish Events Campus the hotel will offer 174 rooms, Sky Bar, restaurant, event space for up to 100 people and fitness studio. 174 rooms MOTEL ONE A new Motel One, set to be the largest hotel in Scotland, is coming to Glasgow around March Motel One Glasgow will be the third Motel One in Scotland and will be located right next to Glasgow central station and 800m from the Gallery of Modern Art. Glasgow has become a national cultural hub, home to institutions such as the Scottish Opera and the Scottish Ballet and is the ideal location for both business and leisure breaks. 374 rooms IBIS STYLES GLASGOW CENTRE WEST Glasgow s second ibis Styles Hotel will open in summer 2018 on Waterloo Street in the heart of the city centre. All 137 rooms, restaurant, bar and on site coffee shop have been designed to reflect not only the culture of the city but its musical heritage. 137 rooms THE ANCHOR LINE HOTEL Glasgow s Category A-listed Anchor Line Building will open in September 2018 as a 64-bed aparthotel above the Anchor Line restaurant and Atlantic Bar and Brasserie on St Vincent Place. The full refurbishment of the upper floors will create aparthotel accommodation, containing a mix of studio and one bedroom apartments. 64 rooms 14 / HOTEL PROSPECTUS INVESTGLASGOW.COM \ 15

9 SHORT BREAKS Glasgow was voted the friendliest city in the world in a Rough Guides poll and has been named a must-visit destination by leading publications including Condé Nast Traveler, Lonely Planet, National Geographic Traveler, the New York Times, The Guardian and Wanderlust. WHAT MAKES GLASGOW A MAGNET FOR SHORT BREAK LEISURE TOURISTS? A SHOPPING MECCA With more than half a million square metres of retail floor space, Glasgow is the UK s largest and most successful shopping location for spend outside of London. The city is home to an abundance of luxury outlets while independent retail is vibrant and continues to grow in variety and scale. FOOD & DRINK Glasgow is one of the best places to head to for culinary experimentation Rough Guides list of must-see destinations 2017 Glasgow s food and drink scene is vibrant and firmly part of the city s unique culture. Glasgow s culinary offering is imaginative and cosmopolitan and the range of choice for visitors is breath-taking, with new restaurants continually popping up. This distinctive food and drink offer is guaranteed to enhance the visitor experience in the city. WORLD-CLASS CULTURE Home to the Royal Scottish National Orchestra, National Theatre of Scotland, BBC Scottish Symphony Orchestra, Scottish Opera and Scottish Ballet, and an internationally acclaimed reputation in contemporary art, design and music. A CENTRE OF EXCELLENCE FOR VISUAL ARTS Seven Turner Prize winners, including the 2014 winner, and 11 nominees have lived, trained or worked in the city in recent years. Due to the city s track record of success at the event, it was chosen to host the Turner Prize Awards in A UNESCO CITY OF MUSIC As the UK s first UNESCO City of Music and one of only 10 in the world, Glasgow is home to the most immersive music experience in the world and visitors from across the globe regularly cite music as a reason for coming to Glasgow. With a track record in delivering massive music events from the MTV Europe Music Awards to the MOBOs some 1.4 million people attended music events in Glasgow in 2015, contributing 105 million to the city s economy. EUROPE S FINEST CIVIC ART COLLECTIONS Two of the finest civic art collections in Europe can be found in Glasgow, at the Burrell Collection and Kelvingrove Art Gallery and Museum. WORLD-CLASS EDUCATION FACILITIES Home to five higher education institutions and three super colleges which attract over 130,000 students every year, and their families. GREAT NATURAL BEAUTY The archipelago of the Clyde Coast and Islands and the Highlands stunning scenery is on the city s doorstep, just 45 minutes away. Glasgow landed on our list because it s one of the most exciting cities in the world right now. Its art and music scenes are just too hot to ignore and really embody Glasgow s energy and swagger Glasgow was named by industry travel bible, National Geographic Traveler, as one of its 20 Best of the World destinations for / HOTEL PROSPECTUS INVESTGLASGOW.COM \ 17

10 INTERNATIONAL CONNECTIONS Kittila Glasgow s air, rail and road infrastructure ensures excellent Sumburghaccess Bergen and once you Kirkwall Oslo arrive you can move quickly and efficiently throughout the metropolitan area. With Stockholmmost Stornoway Benbecula European destinations Orlando within two hours of Glasgow, Barra this offers a short journey time and Tiree Gothenberg Miami North America low cost travel. & Caribbean Islay Calgary Vancouver FLIGHT Las Vegas Sal Boa Vista Island Calgary Vancouver Las Vegas Sal Boa Vista Island Calgary Vancouver Tenerife Tenerife Las Palmas Las Palmas Montreal Toronto New York Orlando Miami North America & Caribbean Halifax Varadero Cayo Montreal Coco Cancun Toronto Holguin Montego Bay New York Bridgetown Madeira Fuerteventura Montreal Toronto New York Lisbon Orlando Miami North America & Caribbean Varadero Cayo Coco Faro Cancun Holguin Montego Bay Bridgetown Lanzarote Halifax Varadero Cayo Coco Cancun Holguin Montego Bay Bridgetown Halifax DESTINATIONS Las Vegas Madeira Fuerteventura Lanzarote Marrakesh Lisbon Marrakesh Faro Reykjavik Campbeltown GLASGOW Palanga Donegal Derry Billund Belfast Isle of Man Gdansk Dublin Leeds Bradford Manchester Szczecin Nottingham Bydgoszcz Cork East Midlands Birmingham Enontekio Rovaniemi Modlin Berlin Poznan Warsaw Amsterdam Kittila Lodz Bristol Lublin London Wroclaw Newquay Southampton Katowice Krakow Rzeszow Reykjavik Frankfurt Prague Tampere Jersey Paris Sumburgh Bergen Munich Memmingen Salzburg Budapest Tallinn Kirkwall Oslo Stockholm Stornoway Enontekio Rovaniemi Benbecula Geneva Kittila Barra Bucharest Chambery Tiree Gothenberg Riga Bordeaux Milan Venice Varna Verona Pula Islay Turin Burgas Campbeltown GLASGOW Zadar Palanga Reykjavik Tampere Donegal Derry Billund Belfast Carcassonne Marseille Split Dubrovnik Isle of Man Sumburgh Gdansk Dublin Leeds Bradford Bergen Girona Manchester Rome Tallinn Szczecin Barcelona Nottingham Kirkwall Oslo Stockholm Bydgoszcz Cork Reus Madrid Stornoway East Midlands Birmingham Naples Modlin Berlin Poznan Kerkyra Benbecula Warsaw Valencia Amsterdam Barra Menorca Lodz Bristol Palma Lublin Corfu Bodrum Tiree London Gothenberg Riga Wroclaw Newquay Southampton Ibiza Cagliari Kos Alicante Katowice Krakow Dalaman Islay Rzeszow Malaga Murcia Prague Zakinthos Island Rhodes Campbeltown GLASGOW Palanga Frankfurt Antalya Donegal Almeria Jersey Derry Billund Paphos Belfast Paris Larnaca Isle of Man Munich Gdansk Chania Heraklion Dublin Leeds Bradford Memmingen Salzburg Manchester Szczecin Malta Budapest Nottingham Bydgoszcz Cork East Midlands Birmingham Modlin Dubai Enfidha Berlin Poznan Warsaw Amsterdam Geneva Lodz Sharm el-sheikh Bucharest Bristol Chambery Lublin Abu Dhabi London Bordeaux Milan Venice Wroclaw Varna Newquay Southampton Verona Pula Turin Katowice Krakow Rzeszow Burgas Prague Frankfurt Zadar Jersey Carcassonne Marseille Split Paris Dubrovnik Munich Girona Memmingen RomeSalzburg Budapest Barcelona Reus Madrid Malaga DIRECT FLIGHTS FuerteventuraFROM NORTH AMERICA Sal Boa Vista Island Madeira Lisbon Marrakesh Tenerife Visitors can travel direct to Glasgow from a number of destinations Las Palmas including: Lanzarote New York, Philidelphia, Orlando, Toronto, Calgary and Vancouver. Faro Madrid Malaga Valencia Bordeaux Alicante Murcia Almeria Valencia Alicante Murcia Almeria Palma Ibiza Carcassonne Girona Barcelona Reus Palma Ibiza Menorca Menorca Geneva Chambery Milan Cagliari Venice Verona Pula Turin Marseille Enfidha Enfidha Cagliari Enontekio Naples Malta Rovaniemi DIRECT FLIGHTS FROM THE FAR EAST Visitors can connect to Glasgow with ease using the twice daily Emirates flight direct from Dubai to Glasgow. Tampere Tallinn Riga Naples Kerkyra Corfu Bucharest Bodrum Varna Kos Dalaman Zakinthos Island Burgas Rhodes Zadar Antalya Split Paphos Dubrovnik Larnaca Chania Heraklion Rome Malta Kerkyra Dubai Sharm Corfu el-sheikh Abu Dhabi Bodrum Kos Dalaman Zakinthos Island Rhodes Antalya Paphos Larnaca Chania Heraklion Sharm el-sheikh Dubai Abu Dhabi 6 HOURS NEW YORK GLASGOW FLIGHTS TO GLASGOW 1 HOUR LONDON 1.5 HOURS AMSTERDAM 2 HOURS FRANKFURT 1.5 HOURS PARIS 7 HOURS DUBAI AIRPORT CONNECTIONS TO THE CITY 15 MINS GLASGOW AIRPORT Shuttle bus from the airport direct to the city centre every 10 mins, with stops at major hotels Taxis are always available PLANE 45 MINS GLASGOW PRESTWICK Direct trains every 30 mins to city centre 150+ destinations worldwide 1 HOUR EDINBURGH INTERNATIONAL A shuttle bus departs from Buchanan Street Bus station to and from Edinburgh International Airport every 30 mins Frequent bus/train links to Glasgow city centre every 15 mins Direct flights to North America, Europe, Asia and the Middle East 200+ flights daily 9.4 million passengers per year 30+ new routes for Frankfurt, Munich, Krakow and Madrid Most European destinations within 2 hour flight London 1 hour flight time 438 flights per week to London TRAIN Central Station 38 million passengers per year Queen Street million improvement programme 38 trains per day to London Euston 8 trains per hour to Edinburgh Edinburgh 50 mins Manchester 3 hrs 20 mins London 4 hrs 30 mins Glasgow is wonderfully connected making it easy to do business in the UK, Europe and beyond. AIR Glasgow Airport is Scotland s principal long-haul airport offering direct flights to North America, Europe, Asia and the Middle East. It is located approximately 9 miles west of the city centre and was voted best European, UK and Scottish Airport of the Year in RAIL Glasgow is served by two main railway stations, Central Station and Queen Street Station, and has the largest suburban rail network outside of London. Regular connections to London and major English and Scottish cities makes travel throughout the UK simple. Glasgow city centre is also served by an underground and low level train system which links the city to outlying residential areas. ROAD Scotland s trunk road and motorway network connects its cities, towns, airports and ports enabling easy movement of people, goods and services. Roads are well maintained and, in general, the traffic density is lighter than other parts of the UK. Glasgow is served by four motorway systems which efficiently link the Glasgow city region and beyond. BUS 16 million passengers per year 40,000 passengers a day 170 bus services in and out of Glasgow 300 million refurbishment 15 stations SUBWAY Runs every 4 mins at peak times 13 million passengers per year CAR Edinburgh 1hr 5 mins Manchester 3hrs 30 mins Birmingham 4 hrs 30 mins London 7hrs 20 mins 18 / HOTEL PROSPECTUS INVESTGLASGOW.COM \ 19

11 AWARD WINNING CITY TOP LARGE EUROPEAN CITY OF THE FUTURE 2018/19 Glasgow has achieved an outstanding set of results in the prestigious fdi Magazine European Cities of the Future Awards 2018/19. In the Large Cities categories, Glasgow was awarded: Top 10 overall Large City; Runner-up for FDI strategy; and Top 10 for Business Friendliness and Connectivity. TOP TEN GLOBAL CITY FOR FDI STRATEGY 2016/17 Glasgow has been recognised as a Top Ten Global City for FDI Strategy. Ranked 7th, this is a true endorsement of the city s appeal as a location for FDI. Glasgow also received bespoke awards for worker training (The Glasgow Guarantee) and a specialism award for life sciences. ONE OF THE WORLD S BEST PERFORMING FINANCIAL CENTRES Global Financial Centres Index 2017 The Global Financial Centres Index (Sep 2017) has ranked Glasgow in the Top 50 of the world s best performing financial centres (out of 92) and in the Top 15 of Europe s best performing financial centres. Glasgow has the third most important financial centre in the UK and has its own dedicated International Financial Services District. ONE OF THE WORLD S TOP SPORTING CITIES AND NO 1 CITY FOR SPORT LEGACY Glasgow is ranked 5th in the world s top 10 sporting cities according to the internationally recognised SportBusiness Ultimate Sports City 2016 Awards. The city was ranked ahead of Olympic cities such as Los Angeles, Tokyo, Sydney, Amsterdam and Paris. Glasgow was also named the No. 1 city in the world in the Legacy category to recognise its longstanding commitment to increasing sports participation and creating new sporting opportunities for citizens. TOP UK CITY FOR RETAIL OUTSIDE LONDON Glasgow is one of the UK s largest and most successful shopping locations, after London s West End, it is the first UK city for retail by comparison spend (tourists, workers and residents) (HDH 2017). WORLD S TOP INDOOR ARENA SSE HYDRO The SSE Hydro is ranked first in the global Billboard Chart Top 10 Venues Index ahead of Hallenstadion in Zurich, the Mercedes-Benz Arena in Berlin and Brisbane Entertainment Centre, Australia. It is third in Pollstar s Top 100 global arenas list ahead of Madison Square Garden in New York and the Ziggo Dome in Amsterdam. BEST EUROPEAN, UK AND SCOTTISH AIRPORT Glasgow Airport celebrated its 50th Anniversary in 2016 by scooping a range of prestigious awards: the Airport Council International Europe s (ACI PROUD TO SERVE SCOTLAND Europe) Best Airport Award; Scottish Airport of the Year 2016; UK Airport of the Year; and the Airport Operators Association (AOA) Airport of the Year. UK S BEST CONVENTION BUREAU 11 YEARS RUNNING The Glasgow Convention Bureau at Glasgow Life was named the UK s Best Convention Bureau for a record 11th time in At the influential Meetings & Incentive Travel (M&IT) Awards, held in London, Glasgow beat off strong competition from across the UK to become the first organisation to collect the top prize on 11 occasions and over consecutive years. 1ST EVER CONVENTION BUREAU TO RECEIVE A GREEN TOURISM AWARD Green Tourism, the world s largest certification programme of its kind, assesses businesses on their green credentials with Glasgow Convention Bureau awarded a Silver grading for demonstrating a progressive approach and commitment to sustainability the first convention bureau to receive such an award. 4TH IN THE WORLD FOR SUSTAINABLE BUSINESS TOURISM Now ranking number 4 in the world, Glasgow has been recognised as one of the world s leading cities for sustainable business tourism by the Global Destination Sustainability Index after climbing 3 places and increasing its overall score by 16% on last year. BEST IMPROVED DESTINATION AWARD 2017 (ICCA) Glasgow Convention Bureau has been awarded the Best Improved Destination 2017 Award at the International Congress and Convention Association (ICCA) Congress in Prague in recognition of the city s enhanced sustainable business tourism offering. 20 / HOTEL PROSPECTUS INVESTGLASGOW.COM \ 21

12 TESTIMONIALS BLYTHSWOOD SQUARE Having been involved in many of the prestigious city events over the years, Blythswood Square feels very much a part of this thriving city. Events such as Commonwealth Games, MTV Awards and the huge success of The SSE Hydro have been amazing for the city and Glasgow is excited to host the inaugural European Championships in We take delight in looking after guests to the city as much as the residents of Glasgow and the surrounding area. It s a real privilege to be part of this exciting and progressive city and can t wait to see what the future has in store. GRAND CENTRAL HOTEL We re exceptionally lucky to be in such a central location, with a unique outlook on both the city and one of Glasgow s major transport hubs, from which we benefit greatly. Improved transport links on the back of the Glasgow 2014 Commonwealth Games, coupled with major investments like The SSE Hydro have given Glasgow a boost that we ve experienced first-hand in terms of tourist and business trade. Glasgow is a wonderful city and it s a privilege to look after its visitors and the locals who come in to enjoy afternoons and evenings in our Tempus restaurant and our beautiful Champagne Central that recently had a sparkling six figure makeover. We re looking forward to the coming year welcoming more visitors and supporting with accommodation for wider city events and conferences. Allan Wilson, Director of Operations Murray Thomson, General Mananger DAKOTA DELUXE We were delighted to introduce our luxury brand to the heart of Glasgow. The city is the dynamic home to international conferences, major music and sporting events, and numerous cultural attractions. Glasgow continues to go from strength to strength and we are very proud of the reputation we have earned as the city s top hotel and look forward to future prospects. APEX CITY OF GLASGOW HOTEL The hotel s great location means it is at the heart of the action both for the corporate and leisure markets and we expect to welcome many of the visitors who come to Glasgow because of its reputation for shopping, culture and music. Our iconic Bath Street building has given us the perfect opportunity to create a stylish hotel that offers everything you d expect from four star accommodation. Andrew Ovenstone, Operations Director Lindsay Sturrock, General Manager 22 / HOTEL PROSPECTUS INVESTGLASGOW.COM \ 23

13 TESTIMONIALS IBIS STYLES GEORGE SQUARE We were delighted to open Glasgow s first ibis Styles property towards the end of Glasgow is a city like no other great people, a rich history and vibrant cultural scene as well as fantastic shopping, restaurants and nightlife. That s why our hotel is designed with the city and its icons as its focus it s a city to be celebrated. And as well as the hotel s design being immersed in the city s history and culture, we re physically in the thick of things in the Merchant City, which is wonderful. Since opening we have had a busy couple of years and can t wait to welcome more visitors to the city and the hotel; particularly those experiencing their first taste of Glasgow and all it has to offer. Rory MacAleece, Group General Manager CITIZEN M citizenm opened in Glasgow in September 2010 and we are delighted to be in Scotland s largest city. Glasgow has internationally acclaimed art galleries and museums, along with iconic architecture and the hotel is in the very heart of the city centre, an area bustling with theatre, music, shopping, art and vibrant street life all elements that are highly valued by our mobile citizens. citizenm always reflects and embraces local cultures and tastes and develops its own local style. Here in Glasgow, an almost surrealist oversize mesh artwork by Glaswegian artist Alex Dordoy graces the hotel s outside façade with a tongue-in-cheek humour. Robin Chadha, Chief Marketing Officer THE VILLAGE HOTEL CLUB The Village Hotel Club Glasgow is in a superb location, so very close to the SSE Hydro and SEC. Over the years, there have been many companies which have set up home on the banks of the River Clyde and there is still much development to come in the area which will keep Glasgow thriving. Village Glasgow has everything under one roof and my team is so excited to start welcoming the local community, businesses and leisure guests into our dynamic black box. Jamie Stevens, General Manager Disarmingly blending sophistication and earthiness, Scotland s biggest city has evolved over the last couple of decades to become one of Britain s most intriguing metropolises. The Lonely Planet 24 / HOTEL PROSPECTUS INVESTGLASGOW.COM \ 25

14 DEVELOPMENT SUPPORT If you are looking to invest in Glasgow, you will find a city that has taken a very proactive and innovative approach to support the development industry in its bid to build on the exciting projects underway in the city. With over 15bn capital investment since 2011, Glasgow embraces new investment and works with partners to deliver a compelling offer. WE CAN ASSIST YOU WITH Finding the right Site/location Identifying partners, investors, developers and operators Fast tracking major planning applications or key developments Full range of business support programmes from grant/loan assistance to Glasgow Guarantee wage subsidies for graduates, apprentices and new jobs DEVELOPMENT PIPELINE 26 / HOTEL PROSPECTUS INVESTGLASGOW.COM \ 27

15 INTERESTED? FIND OUT MORE SCOTTISH DEVELOPMENT INTERNATIONAL (SDI) SDI has a dedicated tourism team who work closely with developers, investors and hotel operators to secure a successful investment. sdi.co.uk GLASGOW LIFE Glasgow has confirmed conference and major events business on its books until 2022 and bids in planning through to For the city s latest tourism news, visit peoplemakeglasgow.com and glasgowtourism on Twitter. INVEST GLASGOW Glasgow City Council s Inward Investment Team provides one point of contact to all businesses, property investors and developers seeking to invest in Glasgow. investglasgow.com TO FIND OUT HOW INVEST GLASGOW CAN SUPPORT YOU, CONTACT: invest@glasgow.gov.uk Invest Glasgow +44 (0) Invest Glasgow