Castleforge Partners Acquires the Bruntsfield Hotel in Edinburgh, to Launch a New Hospitality Fund
Main Photo: The BW Bruntsfield Hotel, Edinburgh
Date: May 2021
Location: Edinburgh, Scotland, UK
Name: The Best Western Plus Bruntsfield Hotel, Edinburgh
No. of Keys: 70
Seller: The freehold property was sold for an undisclosed sum by the current owner, the Gwyn family, following the decision to retire after 40 years of ownership.
Buyer: The landmark hotel in the Scottish capital has been acquired in an off-market sale. The 70 bedroom hotel has been acquired by Castleforge Partners and is the first investment by the London based private equity fund for its new hospitality strategy. Castleforge has appointed Axiom Hospitality, headed up by Jamie Lamb and Alex Pritchard, ex-Chairman and CEO of Kew Green Hotels, to operate the hotel on its behalf. Axion recently picked up the management agreement for The Dilly, re renamed Le Meridien Hotel on Piccadilly and have a handful of Hilton and Marriott hotels in London and regional UK under their belts.
Russell Imrie, managing director of Queensferry Hotels, said: “While it is sad for the Gwyn family and myself to be moving on from the hotel after 40 years of care and development, it is comforting to know that we are handing over the baton to Castleforge Partners and Axiom Hospitality who have committed to invest in the property to allow it to benefit from the return of the hospitality industry and to take the hotel forward to its future years of continuing success.”
Matt Lederer, hotel acquisitions director, Castleforge Partners, said: “We are delighted to have purchased the Bruntsfield Hotel. Edinburgh remains one of the most sought after hotel markets in Europe which meets our strategy of investing in best in class opportunities. We are looking forward to investing in the property and working with Axiom to unlock the potential the the hotel offers.”
JLL advised Queensferry Hotels on the off-market sale of the Best Western Plus Bruntsfield Hotel, Edinburgh. Kerr Young, director, hotels and hospitality, JLL, said, “Despite the obvious challenges that have beset the hospitality industry over the course of the last 14 months there remains significant capital looking for investment opportunities.
Brodies advised the Vendor, CMS advised the Purchaser.
THPT Comment: Good to see this well-known hotel in Edinburgh is being delivered into good hands with Castleforge and Axiom……we look for forward to the next hotel to be added to the new fund.
First Seen: Herald Scotland
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