Five-star Scotsman Hotel in Edinburgh put up for sale

An Edinburgh five-star hotel has been put up for sale.

The Scotsman Hotel, on North Bridge, went into liquidation in June, however, the owners, JJW Hotels and Resorts group, were allowed time to look for a way to salvage the business.

However, they failed to find a solution so now the 69-bedroom hotel has been put on the market.

It is being allowed to keep trading and none of the 150 staff have lost their jobs.

Attract credible buyers

JLL Hotels and Hospitality Group and CBRE Hotels have been appointed to sell the hotel.

Kerr Young, director of Hotels and Hospitality for JLL, said: "The Scotsman Hotel was placed into liquidation on 9 June 2016 and Eileen Blackburn of French Duncan was appointed by the court.

"Since this time the hotel has continued to trade under the liquidator's supervision while efforts were made to reach agreement to return the company and its trading to its owners.

"Unfortunately this has not yet proved possible.

"In light of the buoyant nature of the Edinburgh hotel market we are confident that our marketing process will attract credible buyers with a track record in operating high quality hotel assets of this nature."

Rob Seabrook, director of hotels for CBRE, said: "The Scotsman Hotel is one of the most recognisable features of Edinburgh's UNESCO world heritage skyline.

"Barriers to entry in Edinburgh remain high and we anticipate strong interest in this exceptional opportunity."