Britannia Hotels, a UK-based hotel company with 43 hotels and over 8,000 bedrooms nationwide, has expanded its presence in Scotland with the purchase of Travelodge Edinburgh West End, with a guide price of £10m.
Cordial Hotels, which leases its hotels to Travelodge, was helped by specialist property adviser Christie + Co to sell the 178-room Edinburgh hotel.
Travelodge Edinburgh West End hotel is the fifth of six Travelodge properties to be sold by Christie.
The other Travelodge properties sold by Christie on behalf of Cordial Hotels include hotels in Oldham, Coventry, Stevenage and Bath.
The sixth property, Travelodge Newcastle Silverlink, is also expected to be sold soon.
Christie + Co corporate hotels director Jeremy Jones said having sold the Waterside Inn in Peterhead to Britannia Hotels earlier this year, the company is pleased to have assisted further in the group’s expansion plans, both in Scotland and nationally.
The company’s associate director Kerr Young added that interest had been received from a number of parties for the former Dragonara Hotel, including developers, investors and hotel companies from both the UK and abroad, which highlights the continued demand for Edinburgh real estate.
Founded in 1976 with the purchase of The Country House Hotel in Didsbury, Manchester, Britannia Hotels does not build hotels, but prefers to buy, renovate and update existing ones.
Some of its recent acquisitions include the Ramada Leeds North, the Royal Hotel Scarborough, the Clifton Hotel Scarborough, the Royal Bath Hotel Bournemouth and the Daresbury Park Hotel in Warrington purchased in May 2012, and the Waterside Hotel in Peterhead, as well as the Britannia Hotel Edinburgh purchased in 2013.