HOLIDAY INN EXPRESS EDINBURGH CITY CENTRE SOLD
International Hotel Properties Ltd (IHL) has purchased the Holiday Inn Express Edinburgh City Centre in Scotland out of administration for £17.7 million (£110,000 per room). The 161-room hotel will continue to operate under a franchise agreement with InterContinental Hotels Group and Redefine BDL Hotels will take over the property’s management. IHL now has a portfolio of nine hotels (1,135 guest rooms) across the UK. The hotel’s previous owner, the European Development Company (EDC), fell into administration in November last year, and EDC’s two other assets (a Holiday Inn and a Holiday Inn Express in Aberdeen, northeast Scotland) will be coming to the market soon.