Hotel owner agrees deal for business at Holyrood

THE owner of the Old Waverley Hotel on Princes Street has snapped up a hotel close to the Scottish Parliament.

Europoint Holdings has bought the Holyrood ApartHotel in a private deal. The hotel includes 41 apartments and a private gym.

David Reid, a partner at Knight Frank, which handled the sale, said: "This is one of the largest and most high-profile hotel sales in Scotland this year, and I am very pleased that it joins two very successful businesses together."

Jane Robertson, managing director of the Holyrood ApartHotel, said: "We have enjoyed building the business and are now pleased to have released the capital to pursue other opportunities."

Ricky Kapoor, commercial director of Europoint Holdings, said: "This purchase will allow us to offer our clients accommodation in the centre of the New Town or the very heart of the Old Town – two of the most desirable locations in the country to a range of travellers from across the globe."