IHP buys Holiday Inn
Edinburgh hotel sold for £17.7 million
The 161-bed Grade B listed building in Picardy Place, formerly owned by EDC Hotels, has planning permission for a 20 bedroom extension.
It is the ninth hotel bought by IHP since August 2105 as part of its expansion into the European hotel sector.
Chief executive, Jon Colley, said: “This is a high quality asset in the most stable hotel market in the UK, outside of London, and is an excellent addition to IHL’s growing portfolio.”
The hotel, open for 12 years, consistently trades at a high occupancy, he said.
JLL and FRP Advisory advised on the sale.