Edinburgh’s Caledonian Hotel sold for £85m

Edinburgh’s Caledonian Hotel has changed hands in a deal worth £85m. The 241-bedroom hotel on Princes Street, more properly called Waldorf Astoria Edinburgh – The Caledonian, has been bought by private real estate fund manager Henderson Park, in tandem with Klarent Hospitality, a hotel operator and asset manager. The seller is Abu Dhabi-based Twenty14 Holdings, part of Yusuff Ali’s LuLu Group International. The Indian billionaire bought the hotel from Goldman Sachs in 2018 for £85m. The Caledonian becomes the third Edinburgh hotel in the Hilton portfolio of Henderson Park and Klarent. It follows the purchase of the Carlton on North Bridge and the DoubleTree Edinburgh Airport as part of a collection of 12 hotels with 2,424 bedrooms in November 2021. Since it was formed in 2016, London-based Henderson Park has invested $14bn in real estate assets across Europe in sectors including hospitality, retail, offices and student housing. The Times (£)