The Waldorf Astoria – The Caledonian in Edinburgh, the brand’s first foray into the UK market, has been sold to an Abu Dhabi-based international hotel group.
The hotel, which has over 100 years of history, has been sold to Twenty14 Holdings, the hospitality investment arm of Lulu Group International, and currently operates under the Hilton brand.
Twenty14 Holdings made headlines early last year after signing a £110m agreement with property developer Galliard Homes to create a five-star hotel at 1-5 Great Scotland Yard, the former headquarters of London’s Metropolitan Police.
The Edinburgh acquisition means the Waldorf Astoria will join a portfolio of $650m worth of properties across the UK, Middle East and India under the Twenty14 umbrella.
The group now plan to invest £20m into the 241-bedroom hotel, which will see the property expanded by 50 bedrooms over a two-year period starting in 2019.
The Caledonian is also home to two restaurants operated by Michelin-starred brothers Chris and Jeff Galvin; Pompadour by Galvin and Galvin Brasserie de Luxe.
It also houses the only Guerlain spa in the UK.
Adeeb Ahamed, managing director, Twenty14 Holdings, comments: “We are excited to add The Caledonian to the portfolio of Twenty14 Holdings. With more than 100 years of history, The Caledonian brings with it a rich heritage, character and unique opulence.
“We are honoured to be part of this Scottish landmark that has a great significance for locals and visitors alike. We look forward to adding to the experience The Caledonian already offers.”