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Dundee to get five-star hotel

Category: Scottish Investment — Mark on March 10, 2013

Dundee is to get its first five star hotel, the group developing the city’s waterfront has revealed.

The plans will see the old Customs House and Harbour Chambers building converted into 38 luxury bedrooms and will be the third hotel of the development. The Dundee Waterfront group has already announced the opening of the Malmaison and Railway Station Hotel facilities.

With all three sites opening through the course of the next two years, the group expect upwards of 200 jobs to be created.

The development director for the project, Mike Galloway, said the new hotels were a clear sign of the investment being put in by the hospitality and tourism sector. Talking about the projects, Galloway said:

“The new hotels are well timed in advance of a variety of major tourism and infrastructure developments in the city, the largest of which is the new V&A at Dundee, on which work will start later this year.

“The rising investment in Dundee Waterfront, and the city region, is generating hundreds of millions of pounds of additional revenue and creating exceptional opportunities for ambitious businesses.”

Many businesses in the area are ambitious with their financial strategies as the development continues, taking on invoice factoring facilities to grow instead of increasing their debt levels.

The project is also keen to attract new businesses to the area, and has an open invitation to entrepreneurs from Scotland and across the UK.

With a projected cost of £1bn, Dundee Waterfront recently confirmed that half of the investment has already been isolated. It also said that 2013 will see £130m of capital projects being completed or started.

'Disclaimer: The information contained in these articles is of a general nature and no assurance of accuracy can be given. It is not a substitute for specific professional advice in your own circumstances. No action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a consequence of the material can be accepted by the authors or the firm.

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