Holiday Inn Express properties snapped up in Scotland

Two Holiday Inn Express properties have been sold in Scotland, signalling healthy demand for hotels in the region.

The 78-bed Holiday Inn Express in the Royal Mile, Cowgate, Edinburgh and the 82-bedroom Holiday Inn Express Dunfermline were sold to Chardon Trading for an undisclosed price in a combined package.

Selling agents Colliers International and Savills were inviting offers of about £12m for the two hotels.
Chardon's portfolio already comprises Holiday Inn Express properties in Glasgow, Perth and Edinburgh Airport. Both businesses will continue to be managed and operated by Interstate, under the Holiday Inn Express franchise.

Julian Troup, director with Colliers International, said: "There was strong demand for both these limited service hotel businesses from not only the UK corporate companies, but also internationally."

Rob Stapleton, director at Savills, added: "The success of Edinburgh as a destination, where occupancy levels and achieved room rates are being successfully maintained, undoubtedly was a huge draw and appeal."