Main Photo: The Princes Street Suites
Date: April 2019
Location: Princes Street, Edinburgh, Scotland, UK
Name: Princes Street Suites
No. of Keys: 37 one, two and three bedroom apartments
Seller: A group of private investors led by Andrew Lapping of the Hamilton Portfolio.
Buyer: The Edinburgh Collection, headed up by brothers Sheetal and Ricky Kapoor.
Previously managed by RBH, the apartments were recently refurbished and the Edinburgh Collection plans to expand the reception area with a 24-hour bar and coffee lounge. The apartments will also have smart TVs, USB charging points and Handy smartphones added.
As part of a move to attract local companies to use its facilities for day lets, the group also plans to improve and promote its meeting room accommodation.
Ricky Kapoor, managing director of the Edinburgh Collection said: “The Princes Street Suites offers a luxurious edge to our portfolio and our team are looking forward to marketing it effectively from within our group.”
Sheetal Kapoor, group chief executive of the Edinburgh Collection added: “The acquisition of Princes Street Suites enhances the Edinburgh Collection’s portfolio in the city with a full range of accommodation options from the affordable business class Haymarket Hub hotel; the historic Old Waverley; and the four-star Holyrood aparthotel just off the city’s Royal Mile.
“The group now owns in excess of 440 bedrooms across Edinburgh, employing over 120 staff across the four properties. The group has seen positive growth in profit and turnover in the last financial year and with the acquisition of Princes Street Suites the group looks forward to continue this trend.”
THPT Comment: The brothers are rapidly becoming the big noise in Edinburgh, with this their fourth hotel in the city…will they manage to acquire in London, which we know is on their wish-list?
First Seen: The Caterer
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