The Holiday Inn Express Edinburgh City Centre has been sold to International Hotel Properties (IHL) for £17.7m, with Redefine BDL Hotels (RBH) taking over management of the property.
Following the administration of its previous owner last year, Aberdeen-based European Development Company (EDC), the 161-bedroom hotel was put up for sale, and Middlesex-based IHL recently acquired the hotel for £17.7m.
The news follows the announcement that the Hilton Aberdeen Exhibition and Conference Centre, owned by Aberdeen City Council and due to open 2019, will also be operated by independent hotel management company RBH.
RBH manages 43 branded and private label hotel properties across the UK, with brands including IHG, Hilton, Accor, Marriott and Best Western. It already has three properties in Edinburgh: Princes Street Suites, Courtyard by Marriott Edinburgh and DoubleTree by Hilton Edinburgh.
John Stuart, RBH's chief operating officer, said: "This is an exciting addition for RBH and another fantastic addition to our portfolio. Edinburgh continues to be a key market that we know well, and the hotel will join our other three city based properties in providing guests with great service and access to all of the fantastic attractions that Edinburgh has to offer."