Scottish Daily Mail

Hotel owner checks in with £85m purchase

- By Ellie Forbes

ONE of Scotland’s most celebrated hotels has been sold for £85million.

The Waldorf Astoria Caledonian in Edinburgh has been acquired by Abu Dhabi-based Twenty14 Holdings.

It is the biggest hotel transactio­n since the sale of the five-star Gleneagles Hotel in Auchterard­er, Perthshire, for £150million three years ago.

The new owner is the hospitalit­y investment arm of Lulu Group Internatio­nal, which has assets worth more than £471million spread across the UK, the Middle East and India.

The offshore investors plan to add 50 guest rooms to the 241-room hotel in a two-year refurbishm­ent programme costing £20million. The sale also marks the largest single asset trade in the regional UK market in the past 12 months.

The Caledonian Hotel opened its doors in 1903, and was part of the Edinburgh Princes Street railway station.

Adeeb Ahamed, managing director of Twenty14 Holdings, said: ‘With more than a hundred years of history, The Caledonian brings with it a rich heritage, character and unique opulence.’

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