Hotels in Glasgow are riding out the credit crunch better than anywhere else in the UK.
A new study by business advisory firm Deloitte found the city is performing better than 10 other major UK cities including London and Edinburgh.
It has one of the highest hotel occupancy rates - and some of the lowest room rates, and has avoided having to make the huge cuts in room rates that have affected other major cities.
The city, which has 11,427 hotel rooms, has the fourth highest occupancy rate in Britain at 71.8-per cent, beating cities such as Manchester and Liverpool.
And Glasgow hotels are the third cheapest, beaten only by Birmingham and Leeds.
World class concerts and the city's booming tourism and conference business are credited for the success.
A Deloitte spokesman said:
"Glasgow is the least affected market in the UK.
"Despite the economic conditions, the city continues to attract both leisure and corporate demand by hosting world class concerts.
"It has some of the lowest average room rates in the country - attractive to the conventions and exhibitions market."
In the year to June, the recession forced hotel firms across the country to cut the amount they charge for a room. The biggest fall was in Reading where prices fell by almost a quarter with hotels at Heathrow and Gatwick also recording price cuts of more than 22-per cent.
In contrast, prices in London fell 7.3-per cent, Edinburgh 4.5 -per cent but Glasgow reduced prices by just 1.6-per cent.
Experts say this stability shows the strength of the hotel sector in Glasgow.
An average hotel room rate in Glasgow is GBP64 a night compared to GBP69 in Liverpool and Newcastle, GBP72 in Manchester, GBP78 in Edinburgh and GBP122 in London.
Glasgow is so confident of its future that Glasgow City Marketing Bureau is pushing to have a further 3000 premier hotel rooms over the next eight years.
Several quality hotels are in the pipeline including the GBP125million, six star Jumeirah in the International Financial Services District and the GBP26m Town House Hotel in Blythswood Square.
Glasgow has set an ambitious target of a 60-per cent increase in tourism revenue by 2016 - 10-per cent more than the target for the rest of Scotland.
Marketing Bureau chief executive Scott Taylor says the target was set before the recession.
But he added: "The current global economic downturn will make these targets challenging, but not impossible.
"We have practical reasons to be optimistic because Glasgow has an extraordinary armory of weapons to help fight this recession.
"Perhaps uniquely in the UK, the city and private sector are forging ahead with billions of pounds of investment.
"Where other cities have had cause to think again, Glasgow is in the enviable position of remaining upbeat as we move ever closer to hosting the 2014 Commonwealth Games."
