And yet another well-regarded hotel has been
bought as the foundation for a new chain. We've seen the
Waldorf-Astoria and the
Hotel de Crillon spawn new
hotel chains recently. Now the
Scotsman Hotel in Edinburgh has been
bought by Saudi billionaire Mohamed Bin Issa al-Jaber who plans to use the hotel as the flagship for a new chain.
According to
the Scotsman, the hotel was sold for
£63 million. The new European hotel brand will also include La Tremoillé in Paris and the Berners Hotel in
London which is undergoing a £32 million refurbishment.
