AN international hospitality group has made its first foray into the UK with the acquisition of an Edinburgh hotel in a £5 million deal.
Shanti Hospitality Group, whose portfolio includes Nira, Ista and Nidra-branded hotels in India, Ananda spa in the Himalayas and the Shanti Maurice resort in Mauritius, bought Number 10 in Gloucester Place.
Previously known as the Christopher North Hotel, Number 10 has 30 suites across the two townhouses it occupies, as well as the Christopher North Bar & Restaurant.
Shanti Hospitality Group director Bhanu Choudhrie said the acquisition of Number 10 was an important strategic move by the business.
“We are very excited to be entering the UK hospitality market in 2011 and expect 2012 to be an interesting year for UK tourism off the back of the Olympic Games coming to London,” he said.
“Today, foreign and domestic tourism to Edinburgh is strong, and we believe that summer 2012 will witness an influx of foreign visitors which will spring-board this inspiring capital into an even stronger position.”
Previous owner Louise Koch Leonard said she had “loved every minute” of the experience of refurbishing the property. I am obviously sad in so many ways to be leaving such an important part of my life,” she said.
“Much of the success of the hotel was repeat business from an international clientele, many of whom have become great friends. My team of staff have all been excellent but will remain totally committed to the new owners. I do, however, have various other projects in Scotland and abroad and I know that the new owners will continue to run the hotel in a five-star manner and I genuinely wish them all the very best for the future.”
Knight Frank partner David Reid, who handled the sale, added: “It just goes to show that the very top end of the property market is still active and when a prime hotel with outstanding profitability and [that is] immaculately presented comes to the market, there are still buyers, particularly from London and overseas.”
(Image: Number 10, in Edinburgh’s Gloucester Place, has 30 suites, a bar and restaurant.)