GREENWICH, Connecticut, July 29, 2014 /PRNewswire/ -- Starwood Capital Group, a leading global private investment firm, announced today that it 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—from The George, a hotel that Starwood Capital Group owns through its February 2013 acquisition of the Principal Hayley Group. 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, Senior Vice President 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."
About Starwood Capital GroupStarwood Capital Group is a private investment firm with a core focus on global real estate. Headquartered in Greenwich, CT, the Firm maintains 12 offices in six countries around the world. Starwood Capital Group has raised nearly $25 billion of equity capital since its inception in 1991, and currently manages $36 billion in assets. The Firm has invested in virtually every class of real estate on a global basis, opportunistically shifting geographies and changing positions in the capital stack as risk-reward dynamics evolve. For more than two decades, Starwood Capital Group and its affiliates have successfully executed an investment strategy that involves building enterprises around real estate portfolios in both the private and public markets. Additional information can be found at starwoodcapital.com.
