Abu Dhabi-based investor Twenty14 Holdings, a Lulu Group International subsidiary bought Edinburgh’s Waldorf Astoria-The Caledonian for £85 million sale (USD 117 million), reported Hotel Management.
The deal is considered the biggest hotel sale in Scotland since 2015, and the largest in the U.K over the past year.
The Caledonian Railway Company built the hotel in 1903 as part of the Edinburgh Princes Street Railway station, which has stopped running since its close in 1965. Recently, the hotel updated its 254 rooms. The Caley is known for lodging famous guests, including former U.S. President Barack Obama, comedians Laurel and Hardy, actors Carey Grant and Liz Taylor and King Hussein of Jordan.
The opening of The Caley followed up the Balmoral’s, another railway hotel originally called the North British. Both hotels became publicly owned in 1948 after the nationalization of the UK’s railroads. The hotels later became privately owned. The Caledonian Hotel reopened in 2012 as a Waldorf Astoria following a refurbishment and rebranding program—the first of the brand in the UK. Rocco Forte Hotels acquired the Balmoral in 1997 and later renovated the hotel in mid-December 2017 in a multi-million-pound overhaul.
Add to Favorites