UK: Fountain Court, the largest serviced apartment provider in Scotland, has opened Braid Apartments, its eighth property in Edinburgh.
The property comprise 20 modern apartments with a range of studio, one- and two-bedroom options in a historic listed building in New Town’s Thistle Street.
This brings the total number of serviced apartments which Fountain Court is operating in Edinburgh to 230, accounting for more than 20 per cent of the city’s apartment sector.
Director of Fountain Court Apartments John Neil said: “The serviced apartment sector has experienced significant growth over recent years and is one of the fastest growing areas in the UK hospitality industry, currently with a market share of 3.1% of the UK’s accommodation sector, and 7% in Edinburgh. In particular, there has been a noted increase in demand from the corporate sector with business travellers leaving the hotel environment and turning to serviced apartments to benefit from a more relaxed ‘at home’ place to stay, especially on longer trips. Leisure travellers, too, have discovered that apartments offer much more in terms of space, flexibility and cost-effectiveness compared to hotel rooms.”
Nigel Kerr, relationship director at HSBC, said: “Apartment lets are an emerging part of the rental market with demand continuing to outstrip supply. We’ve worked with Fountain Court Apartments since 2012 and seen the business grow into a diverse operator servicing both corporate and leisure sectors. We have great confidence in John Neil and his team at Fountain Court Apartments. With deep knowledge of the sector they are at the forefront of a new and emerging market in Scotland and we look forward to supporting their future ambitions. By supporting the acquisition of Braid Apartments, we are strengthening Fountain Court’s foothold as market leader in Scotland.”
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