UK: Property management company ALTIDO, part of DoveVivo Group, has more than doubled its pop-up hotel inventory in Edinburgh this year.
Since ALTIDO first began operating pop-up hotels in Edinburgh 2020, the company has seen a 215 per cent increase in nightly rates and an average occupancy rate of 87 per cent to date.
Eight pop-up hotels were operating at the time in 2020. This figure has grown to 17 trading during the recent summer period, with 32 per cent of these properties having opened within the last year.
As a result, ALTIDO has more than doubled its inventory, offering more than 83,000 nights in total to visitors.
It operates Vita Edinburgh (Vita Student Fountainbridge), ALTIDO Affordable Haddington Place, ALTIDO Affordable Capitol Students, ALTIDO Affordable Kincaids Court and ALTIDO Affordable Robertson Close.
Student accommodation historically sits empty during the holidays. Operated as short-term seasonal hotels, these buildings are transformed to offer guests alternative and affordable city centre lodging.
Francesco Morgante, head of distribution at ALTIDO, said: “The figures speak for themselves in terms of the opportunities that pop-up hotels present in city centre locations. Not so long ago, these assets routinely stood empty because of the difficulty in temporarily pivoting from one type of guest to another. This year, we have expanded our operations to build on this hugely successful revenue stream.”