The budget easyHotel on Edinburgh's Princes Street has been sold to a London-based investor and operator after being put on the market for £1.75m.
Commercial property firm Colliers International sold the 29-bedroom business, which will continue to be operated under the easyHotel franchise agreement. The site at 125a Princes Street was sold for an undisclosed sum, but had been marketed seeking offers of around £1.75m.
The property is also said to have good views of the Scottish city, including to Edinburgh Castle, and have high occupancy levels.
Alistair Letham, a director in the UK hotels agency team at Colliers International, said: "The sale of the easyHotel signals the continuing demand for city centre hotel properties in Edinburgh, particularly when in prime locations."
The easyHotel brand operates 10 hotels in the UK, including across London at Victoria, Old Street, Paddington, Earls Court, and Heathrow, alongside sites in Croydon, Luton, and one in Glasgow. It recently acquired a property in Birmingham, and also runs sites in Switzerland, the Netherlands, Germany, Hungary, Bulgaria, the UAE and the Czech Republic.