One of Edinburgh's biggest hotels is set for a complete refurbishment - with the completion date currently March 2022.
The Crowne Plaza Royal Terrace is set to undergo a massive makeover in the coming winter months, with London based property investment firm, Castleforge Partners, re-shaping the 97-room hotel.
The hotel is currently closed, but aims to be back open as soon as possible. The work that is set to be done to the building will be a rolling-revamp, meaning they aim to stay open for business whilst also working on the renovation.
The hotel, situated near the new £1 billion St James's Quarter, already has attractable features such as a gym and terrace restaurant, so guests should be excited at the prospect of this new development.
READ MORE - Plans to turn historic Edinburgh Scotstoun House into plush new woodland homes
The Crowne Plaza is now the third hotel that Castleforge have invested in this year. In May, they announced the acquisition of The Bruntsfield Hotel in Edinburgh, shortly followed by the purchase of the Hilton Hotel in Cardiff in June.
Castleforge have appointed Axiom Hospitality to manage all three assets.
Since the company's birth in 2010, Castleforge has invested approximately £1 billion, gaining a reputation for value-add investment in office and residential real estate across the UK and Europe.
Matt Lederer, Hotel Acquisitions Director for Castleforge Partners commented: “We are thrilled to add the Crowne Plaza to our portfolio of hotels. It is in a prime location in one of the most exciting areas of Edinburgh and we are looking forward to working with Axiom and IHG Hotels & Resorts to bring the best out of this hotel for guests, staff and investors alike."
Edinburgh is definitely one of the most naturally good looking cities in the UK, and it is refreshing to see multi-national corporations putting money into improving the hotel industry in the city.
Alex Pritchard, Co-CEO of Axiom Hospitality said: “We are pleased to be working with Castleforge once again on their latest hotel acquisition, particularly in Edinburgh as it is known for having some of the most sought-after hotels in the world. We are looking forward to repositioning the hotel, making it an exciting place to work, and welcoming guests from across the UK and abroad.”
