The Crowne Plaza Hotel in Edinburgh has been acquired by London-based property investment firm Castleforge Partners, which acquired the Bruntsfield Hotel in the city as well as the Hilton Hotel in Cardiff earlier this year. Axiom Hospitality has been appointed to manage all three assets.
The 97-room hotel, located near the newly re-developed St James Centre, will undergo a full refurbishment before being re-launched in March 2022.
Matt Lederer, Hotel Acquisitions Director for Castleforge Partners commented, “We are thrilled to add the Crowne Plaza to our portfolio of hotels. It is in a prime location in one of the most exciting areas of Edinburgh and we are looking forward to working with Axiom and IHG Hotels & Resorts to bring the best out of this hotel for guests, staff and investors alike.
“Now is a particularly exciting time to be investing in hotels as the tourism industry shows signs of recovery from the pandemic and we will continue to seek exciting investment opportunities in this space.”
Alex Pritchard, Co-CEO of Axiom Hospitality said, “We are pleased to be working with Castleforge once again on their latest hotel acquisition, particularly in Edinburgh as it is known for having some of the most sought-after hotels in the world. We are looking forward to repositioning the hotel, making it an exciting place to work, and welcoming guests from across the UK and abroad.”