EUROPEAN PORTFOLIO
IHL lands £17.7m hotel in Edinburgh
The high-quality asset experiences high occupancies throughout the year, especially during the Edinburgh and Fringe festivals in August, says CEO Jon Colley
Europe-focused hotel and leisure property investment vehicle International Hotel Properties Limited (IHL) has acquired a premium asset in Edinburgh, the UK’s second-strongest hospitality market after London.On Monday, IHL completed the acquisition of the Holiday Inn Express Edinburgh City Centre for £17.725m plus costs."The acquisition marks IHL’s continued growth and investment into the European hotel sector and is the business’s ninth hotel purchase since August 2015. This property adds a further 161 hotel bedrooms and takes IHL’s portfolio to nine hotels with a total of 1,135 bedrooms," said CEO Jon Colley."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," he said."The hotel consistently trades at a very high occupancy and is a mature, stable business having been open for over 12 years."Colley said the hotel experienced high occupancies throughout the year, especially during the Edi...
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