Town House Collection sells two Edinburgh hotels
The Town House Collection is looking to develop larger hotels, as well as concentrate on its new five-star, 100-bedroom Blythswood Square hotel in Glasgow, after selling two of its Edinburgh properties.
The company has offloaded the five-star, 18-bedroom Howard (pictured below) and the four-red-star, 41-bedroom Channings hotel (pictured above) in the Scottish capital to Palm Holdings, which already owns the city's three-star, 85-bedroom Old Waverley hotel and the Holyrood Aparthotel. However, it still owns the four star, 48-bedroom Bonham in Edinburgh.
While the purchase price of both hotels was not disclosed, the asking price for Channings was £5.5m and £3.5 for the Howard.
Blythswood Square opened in November 2009 as one of Scotland's most environmentally friendly hotels, at a cost of £25m.
Ricky Kapoor, commercial director of Europoint, a subsidiary of Palm Holdings, said the company now intends to undertake a refurbishment programme and promote all its hotels under the banner of The Edinburgh Collection.
"This acquisition now creates a wonderful collection of unique properties to meet the needs of every type of visitor to Edinburgh," he said.
The sale was handed by Colliers International.
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By Janet Harmer
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