G1 group buys former newspaper office
King adds Scotsman hotel to Edinburgh portfolio
His G1 company said it would retain more than 90 employees at the five-star venue.
G1 owns an extensive range of properties in Edinburgh including The Three Sisters, Biddy Mulligans, Ghillie Dhu and the Golf Tavern. It leases the Beer Kitchen to Innis & Gunn and in Glasgow owns the Corinthian.
In a statement from his company he said: “We have enjoyed huge support from Edinburgh City Council, the patrons and the teams employed in our Edinburgh venues over the years.
“The acquisition of The Scotsman Hotel is a significant reflection of a continued commitment to the city.
“We aspire to build on the iconic presence and reputation of the Scotsman Hotel to be at the forefront of hotel venues in the city.”
The Scotsman hotel has had a chequered history and was put up for sale after it fell into liquidation in June last year.
The Scotsman newspaper occupied the building from 1904 until 1999.