A famous Scottish hotel that played host to the late Queen and former US President Barack Obama has been sold.
The 120-year-old Waldorf Astoria Edinburgh – The Caledonian was reported by React News to have been acquired by private equity real estate manager Henderson Park and in-house hospitality operator Klarent Hospitality for an undisclosed sum.
The Herald reported in May that the hotel was on the cusp of an £85 million deal.
READ MORE: One of Scotland’s most famous hotels poised for £85m sale
The seller, Twenty14 Holdings, bought the Caley in 2018 from Hilton, who continued as operator, when it was described as the biggest hotel deal in Scotland since Diageo offloaded Gleneagles for £150m to private investment firm Ennismore in 2015.
Twenty14 is the hospitality investment arm of Abu Dhabi-based Lulu Group International, which has assets worth more than $650m across the UK, Middle East and India.
READ MORE: Top five star Edinburgh hotel 'primed for £100m sale’
It was expected to be one of the largest single UK regional hotel trades in recent years.
It comes after another Scottish giant, the Sheraton Hotel and Spa, also in the Scottish capital, was reported to be in sale negotiations, and amid an active market across the range.
Nick Weber, chief executive and founder of Henderson Park, was reported as saying: "This transaction presents us with a rare opportunity to acquire an iconic hotel with an incredible 120-year heritage that is part of the very fabric of Edinburgh society.
"As custodians of this landmark property, we have a number of planned investments that will improve the guest and visitor experience and ensure the Caley retains its status as one of Edinburgh's most emblematic hotels going forward."
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