One of Scotland’s most luxurious hotels, the Caledonian Waldorf Astoria Edinburgh, has been bought for a reported £85 million.
The new owners are Henderson Park, a real estate investment fund manager, along with Klarent Hospitality, a hotel operator and property manager.
News of the deal came to light in May when Twenty14 Holdings first announced the sale of the 120-year-old hotel at the end of Princes Street.
The 241-room Caledonian, popularly known as the Caley, becomes the third hotel in Edinburgh in the Hilton portfolio of Henderson Park and Clarent.
It follows the group’s acquisition of the Carlton at North Bridge and the DoubleTree Edinburgh Airport as part of a 12-hotel portfolio in November 2021.
Since its inception in 2016, London-based Henderson Park has invested $14 billion in real estate across Europe in sectors such as hospitality, retail, offices and student housing.
Most of the hotels it acquires are managed or sold by Hilton Worldwide, including the Metropole hotels in Birmingham and London. The latter is one of the largest hotels in Britain with 1,059 rooms.
Twenty Four Holdings is based in Abu Dhabi and is part of Yusuff Ali’s LuLu Group International which has over $650m of assets in the UK, Middle East and India. The Indian billionaire bought Caledonian from Goldman Sachs in 2018, at a price similar to the recent sale.
Hilton continues to operate the former railway hotel which was relaunched under the American brand Waldorf Astoria in 2012 after a £24 million upgrade.