Edinburgh hotel is snapped up

THE Edinburgh Park Novotel has been bought from administrators by fund management firm Benson Elliot Capital Management and hotel operator Algonquin.

The four-star, 170-room hotel, which opened in 2008, will continue to be run under the Novotel brand.

Jean-Philippe Chomette, CEO of Algonquin, said: "The asset will benefit from the recovery of the hotel market in Scotland and the arrival of the tram line next to it in the next few years."