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Edinburgh hospitality is due to benefit from a major rise in sales as Edinburgh Fringe and other festivals have kicked off today (2 August).
Last year, Edinburgh welcomed almost 250,000 people to its festivals, which helped deliver a 30% rise in average daily sales for hospitality venues in the city compared with the rest of the year.
According to hotel occupancy data from CoStar, there is an average 79% occupancy rate throughout the Fringe festival from 2 to 26 August. The second day of the Fringe (3 August) has the highest occupancy rate, at 86.1%.
Meanwhile, CGA revealed that average daily sales values in Edinburgh last year during the Fridge (4 to 28 August 2023) were up 29.9% on the average daily sales values during the rest of the year.
Leon Thompson, executive director of UKH Scotland, said: “With hundreds of thousands of people flocking to Edinburgh for The Fringe, The Edinburgh International Festival, The Royal Edinburgh Military Tattoo and the International Book Festival, venues across the city will be packed, providing a much-needed meal, drink or bed for performers and guests alike.
“That fantastic hospitality is a central part for those visiting, as we showcase to visitors and residents what makes Scotland one of the leading tourist destinations in the world. The sales boost that provides is invaluable. We saw sales increase a third on average last year and we expect that to be replicated, and hopefully beaten this year.”
He added: “This all comes at a crucial time for hospitality businesses, which continue to struggle with rising costs, and we hope to see hundreds of thousands of people enjoying the best of Edinburgh over the next month.”
