Berlin-based Leonardo Hotels said it acquired Edinburgh-based Portland Hotels, giving it five properties in Edinburgh, Glasgow, Perth and Aberdeen and increasing its UK portfolio to seven hotels with 1,048 bedrooms.
Leonardo Hotels is the European division of Israel-based Fattal Hotels Group.
The Portland Hotels deal will add 536 bedrooms across Scotland and will take Leonardo’s presence in Edinburgh to 445 bedrooms including the Leonardo Royal which was acquired in October last year.
The portfolio being acquired comprises the Edinburgh City Hotel at Lauriston Place, the Edinburgh Capital at Clermiston Road, the Glasgow Pond Hotel at Great Western Road, the Huntingtower Hotel in Crieff Road, Perth, and the Speedbird Inn near Aberdeen Airport.
Daniel Roger, managing director of Leonardo Hotels Europe, said: “When we entered the market in the UK two years ago, we made it our goal to further expand our portfolio and strengthen the name recognition of the Leonardo Hotels brand.
“The purchase of Portland Hotels underscores this.
“I am convinced that our guests will love and appreciate this expansion of our offerings in key destinations across Scotland.”
Leonardo Hotels was advised by JLL Hotels and Hospitality Group as well as West Ridge Asset Management, French Duncan and DLA Piper.
Brodies represented the existing shareholders.