Waldorf Astoria Edinburgh sold for £85m for second time

04 July 2023 by
Waldorf Astoria Edinburgh sold for £85m for second time

The Waldorf Astoria Edinburgh - The Caledonian has been sold to Henderson Park to be operated by its in-house asset management business Klarent Hospitality in an £85m deal.

The hotel has changed hands for the same sum paid by former owner Abu Dhabi-based Twenty14Holdings in 2018.

Henderson Park said that it planned to invest in the hotel to improve the customer experience, including renovating the rooms and upgrading the public areas.

Nick Weber, chief executive and founder of Henderson Park, said: "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."

John Brennan, chairman of Klarent Hospitality, added: "In the wake of Covid-19, Edinburgh has proven to be one of the most resilient real estate and hospitality markets in the UK.

"Our Edinburgh Carlton hotel, for example, delivered significant revenue per room growth last year compared to 2019, which was driven by a quicker than expected recovery in overseas tourism and business travel and supported by continued strong domestic leisure demand. Our plans for the Caledonian will ensure that it remains well placed to capture this strong demand."

Klarent Hospitality was formed by Henderson Park's acquisition of Amaris Hospitality in 2021. It operates over 20 branded hotels including the Hilton Edinburgh Carlton, DoubleTree by Hilton London – Chelsea and Mercure Bristol Grand.

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