Henderson Park and its in-house hospitality operator and asset manager Klarent Hospitality have acquired the landmark Waldorf Astoria Edinburgh – The Caledonian for an undisclosed price.
The five-star hotel, which is known locally as the ‘Caley’, was built in 1903 and is a category A listed building. It has 241 rooms and is located on Princes Street – Edinburgh’s main retail street.
Former guests include Barack Obama, as well as Hollywood legends including Laurel and Hardy, Judy Garland and Charlie Chaplin. The new owners said they intend to renovate the rooms and upgrade the hotel’s public areas and facilities.
Nick Weber, CEO and founder of Henderson Park, said: “This transaction presents us with a rare opportunity to acquire an iconic hotel with an incredible 120-year heritage that is part of the very fabric of Edinburgh society. As custodians of this landmark property, we have a number of planned investments that will improve the guest and visitor experience and ensure the Caley retains its status as one of Edinburgh’s most emblematic hotels going forward.”
John Brennan, chairman of Klarent Hospitality, added: “In the wake of Covid-19 Edinburgh has proven to be one of the most resilient real estate and hospitality markets in the UK. Our Edinburgh Carlton hotel, for example, delivered significant revenue per room growth last year compared to 2019, which was driven by a quicker than expected recovery in overseas tourism and business travel and supported by continued strong domestic leisure demand. Our plans for The Caledonian will ensure that it remains well placed to capture this strong demand.”
JLL advised the seller on the transaction.
