Today’s news in brief – 17/1/24

The Derwent Arms, a traditional countryside pub, restaurant, and hotel in Edmundbyers, located in the North Pennines’ “Area of Outstanding Natural Beauty,” has been acquired by Valiant Pub Company. This award-winning establishment offers a lounge bar, restaurant, six ensuite rooms, a self-catered guest apartment, and a large beer garden. The pub is popular with both locals and tourists, hosting private events year-round. The acquisition marks Valiant Pub Company’s fourth purchase in the Northeast through Christie and Co, enhancing their presence in the region.
Scotland’s hotel transaction volume in 2024 reached £431m, a 38% increase from 2023, surpassing the 10-year average. Edinburgh dominated with £251m in deals, highlighted by Pandox’s £49m purchase of the DoubleTree Hilton and Millemont’s acquisition of Yotel. International buyers, particularly from the US, Sweden, and the UAE, accounted for 60% of purchases, reflecting sustained revenue growth. Savills anticipates another strong year for Scotland’s hotel sector in 2025, with significant new developments and sales in the pipeline.
The Marcliffe hotel reopened after a two-week closure in January 2025, during which it implemented new systems and training, guided by guest feedback from a survey. The survey emphasized preserving the hotel’s Scottish charm, enhancing room designs, and expanding luxury offerings. Board member Stephen Carter OBE highlighted the hotel’s commitment to elevating service and maintaining its legacy, with further enhancements expected throughout the year.
The UK hotel sector saw a resurgence in 2024, with transaction volumes tripling to approximately £6.4bn, driven by portfolio sales and strong performance in London. Christie and Co’s report noted an 11% rise in deals and a 20% increase in completions compared to 2023. The European hotel sector also thrived, with the UK leading in transactional volume. Despite potential challenges from geopolitical risks and budget pressures, hotels remain a sought-after investment, with optimistic projections for 2025.