Edinburgh city centre hotel looks for buyer

The city centre hotel is currently operated by Premier Inn. Picture: Ian Georgeson
The city centre hotel is currently operated by Premier Inn. Picture: Ian Georgeson
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A city centre hotel in Edinburgh has been put up for sale by Whitbread and the syndicate of private investors which jointly own it.

The Edinburgh City Centre Haymarket Hotel, currently operated by Premier Inn, has already attracted interest from a number of potential buyers, according to Kerr Young, director in JLL’s Hotels & Hospitality team, which is handling the sale.

“The hotel provides an exceptional opportunity for an investor to purchase one of the largest purpose-built hotels in one of the UK’s most sought after hotel markets,” said Young.

READ MORE: Premier Inn reveals £35m plan for three Edinburgh hotels

Young said recent sales of other hotels in the city, including the Radisson Blu and the Crowne Plaza, Royal Terrace, highlighted the level of investment interest in the market currently.

In 2015, hotels in Edinburgh saw occupancy rates reaching 81.5 per cent and average room rates of £88, significantly higher than the UK average.