Premier Inn has announced plans to open a 157 bedroom ‘hub by Premier Inn’ hotel on Rose Street, in the heart of Edinburgh’s New Town in late 2015. This will be the second planned hub hotel for Edinburgh, following the announcement in December to open a 131 bedroom hotel in the city’s historic Old Town in the former Caltongate area.‘hub by Premier Inn’ is a new generation of compact, city centre hotels where style and comfort are twinned with innovative digital connectivity. Modern, contemporary rooms are meticulously designed to utilise every space, whilst creating a calm haven at the heart of the bustling city. Guests can book, check-in online and personalise their room before arrival via the ‘hub app’, leaving them free to relax and unwind. ‘hub by Premier Inn’ is the smart choice for travellers looking for great value, stylish design and a central location.
Patrick Dempsey, Managing Director, Whitbread Hotels and Restaurants commented: “As a city, Edinburgh ticks all the boxes as a perfect location for our ‘hub’ brand. It’s a popular tourist and business destination with strong demand for good value, quality hotels. We believe ‘hub’ will prove to be a tremendous success, appealing to more price sensitive customers seeking quality accommodation in the centre of the city.”
The latest Edinburgh ‘hub by Premier Inn’ is a leasehold site and is being developed by Old Mutual Property Fund, managed by CBRE Global Investors. The smaller room format gives access to a broader range of buildings in city centres and will have 25% lower build and operating costs compared to a Central Edinburgh Premier Inn.
Alistair Fisher, Portfolio Manager, CBRE Global Investors said: “This is an exciting project for us and we are delighted to be working in partnership with Whitbread as they continue to roll out their innovative ‘hub’ concept. With this partnership, we are able to modernise an existing building and change the use to fit in with the surrounding area, as it has evolved into a more leisure orientated destination.
“The transaction is in line with our approach of targeted investment in strong locations and adding value through active management. It will drive significant performance for the Old Mutual Property Fund and will build upon the strong returns the Fund generated in 2013.”
