EDINBURGH landmark, The Caledonian Waldorf Astoria, has been acquired by a private real estate firm.
Henderson Park is a private real estate investment fund manager who have also introduced their in-house hospitality operator and asset manager, Klarent Hospitality, to the hotel.
Known locally as The Caley, the hotel has been a prominent feature in the city for 120 years, after its completion in 1903.
The historic five star hotel with 241 rooms, brings colour to the city centre with its red sandstone, and is a category A listed building.
The hotel boasts a long list of famous former guests having hosted Her Majesty the
late Queen Elizabeth II and former US President Barack Obama.
Many Hollywood legends have also been welcomed including Laurel and Hardy, Judy Garland, Charlie Chaplin and Sean Connery.
The hotel, which takes its name from the Caledonian Railway Company, the original owners of the building, offers views across the city.
Located minutes away from Edinburgh’s two main train stations, it provides
quick access to the city’s main tourist spots, such as Edinburgh Castle.
It is also just a few minutes’ walk both from the main business district and the Edinburgh International Conference Centre.
This made it a very attractive investment for Henderson Park and Klarent Hospitality, who have identified a number of opportunities to invest in the hotel in order to both create value and improve the consumer experience.
These new upgrades include room renovations, as well as upgrading and restoring public areas and facilities.
This is the third Edinburgh hotel in Henderson Park’s Klarent Hilton portfolio.
They purchased the Carlton on North Bridge, at the other end of Princes Street, and the Doubletree Edinburgh Airport as part of a 2,424 room / 12 hotel portfolio acquisition in November 2021.
Nick Weber, CEO and Founder of Henderson Park commented: “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 U.K.
“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.”
