Largest hotel sale in Scotland since 2015 and the largest single asset trade in the regional UK market in the last twelve months.
LONDON – JLL and HVS Hodges Ward Elliott have jointly advised on the sale of the Waldorf Astoria Edinburgh – The Caledonian to an offshore investor in the largest single asset hotel to trade in the regional UK market over the past 12 months. JLL also arranged the debt financing for the purchaser.
Commenting on the sale, Will Duffey, Co-Head European Transactions, JLL’s Hotels & Hospitality Group, said: “The hotel has long been seen as a jewel in the crown of the UK hotel market. Our client’s recent refurbishment programme repositioned the hotel to its former glory when it reopened as the first Waldorf Astoria in the UK in 2012. We are delighted to have advised on this irreplaceable trophy hotel overlooking Edinburgh Castle to an investor who will preserve and protect this most important of assets for generations to come”.
Kerr Young, Director, JLL’s Hotels & Hospitality Group, added: “Edinburgh continues to be one of the best performing and most sought after European hotel markets by both domestic and overseas buyers. The sale of The Caley follows the recent sales during 2017 of The Scotsman and The Bonham as well a number of other hotels in the Scottish Capital. This sale marks the largest hotel transaction in Scotland since the sale of Gleneagles in 2015. Over the last 12 months JLL has transacted more than £150m of hotels in Edinburgh.”
Commenting on the financing aspect, Chris Gow, Head of JLL’s Hotels Debt Advisory team, EMEA, added: “Our team arranged the loan facility for financing in parallel with the sale. This sale is an example of how hotel debt advisory can work effectively with our transactions team to achieve a great result for our clients.”
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
