Starwood Capital Group Acquires The Roxburghe Hotel
Tuesday July 29th, 2014 - 11:08AM E
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EDINBURGH, SCOTLAND—Starwood Capital Group has acquired, through a controlled affiliate, The Roxburghe, a landmark hotel in Edinburgh, Scotland. Terms of the transaction were not disclosed.
The Roxburghe comprises a series of townhouses originally built in 1791, as well as several modern extensions. The property includes 199 keys and houses a newly refurbished restaurant, the George Street Bar & Grill, a private leisure club and spa, and seven meeting rooms, including a ballroom with 300-person capacity.
The Roxburghe is located at the opposite end of George Street—one of the prime commercial thoroughfares in Central Edinburgh, according to the company. Starwood Capital Group subsequently expanded its U.K. hotel platform by acquiring Four Pillars Hotels' five properties in Oxfordshire and surrounding areas, as well as De Vere Venues' collection of 23 owned and leased hotels located predominantly in Greater London.
"We are thrilled to be able to purchase one of the best-known hotels in Edinburgh," said Cody Bradshaw, SVP at Starwood Capital Group. "Our intimate knowledge of the market through our ownership of The George helped us recognize the value of an iconic property in the second-most-popular tourist destination in the United Kingdom, after London. We plan to continue making strategic investments in the U.K. hotel sector as opportunities arise."
Tags: Starwood Capital Group • Roxburghe Hotel • Hospitality • Acquisitions •
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