Abu Dhabi investor Twenty14 Holdings, the hospitality investment arm of LuLu Group International, has bought the Caledonian hotel in Edinburgh for £85m.
The deal represents the largest single asset hotel to trade in the regional UK market over the past 12 months.
The Caledonian operates under Hilton’s flagship Waldorf Astoria brand.
JLL hotels and hospitality group director Kerr Young said: “This sale marks the largest hotel transaction in Scotland since the sale of Gleneagles in 2015. Over the past 12 months JLL has transacted more than £150m of hotels in Edinburgh.”
JLL and HVS Hodges Ward Elliott jointly advised on the sale.
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