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Radisson Blu Edinburgh changes owner

The Radisson Blu in Edinburgh has been bought by a German investor. Although the value of the transaction has not been revealed, it should be more than 59 million pounds sterling.

The Radisson Blu Hotel Edinburgh (4*) was sold to a German investor (Deka Immobilien GmbH). The invitation to tender was set at 59 million pounds sterling (close to 77 million euros), but the final price of the sale has not been revealed. This would be the most important hotel transaction in Scotland since 2007. It also includes a youth hostel and a location behind the hotel that should undergo construction for a new project.

Operations at the Edinburgh property will continue to be managed by Carlson Rezidor, through a lease contract expiring October 31, 2028. Located on Edinburgh's very busy Royal Mile, the property consists of 238 rooms, a restaurant, a bar, a fitness and wellness center and eight meeting rooms from 42m² to 224m².

The Park Inn by Radisson in Manchester was also put up for sale by the same firm (W.G Mitchell) for around 20 million pounds sterling, or close to 26 million euros. English investors from The Ability Group spent this sum to take over teh hôtel.

The Radisson Blu brand belongs to the Carslon Rezidor group which, on January 1, 2014, ranked tenth hotel group worldwide in terms of number of rooms with 168,927 units in 1,079 hotels (data from MKG Hospitality, consulting firm founded by Georges Panayotis). (Read our report)
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