Hilton sells Edinburgh's Caledonian hotel
10/08/2007
Hilton Hotels Corporation has announced the recent completion of the sale of the Caledonian Hilton hotel to The Caledonian Operating Company Ltd UK for the cash sum of £51.7m.
The purchase was funded by Bank of Scotland Corporate. Hilton will retain a long-term management contract for the 251-room hotel. This contract will ensure the continuation of the Hilton brand in this historic landmark hotel, superbly located in the heart of Scotland’s capital city.
The Caledonian Operating Company Ltd UK has agreed to an investment programme of £13.5m to maintain the high standard of amenity and service in the grade II listed building, which originally opened in 1903.
Hilton was advised by C B Richard Ellis Hotels.
