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Work has begun on a ”5.2m ($10.6m) extension on Edinburgh”s George Hotel, the latest in a long line of improvements to the hotel.
Owned by Principals Hotels since 2005, CEO Tony Troy headed the acquisition team that paid ”34m for the hotel and immediately announced a ”12m makeover. Previous estimates for the regeneration of the hotel had been as high as ”25m.
Behind the improvements is David Welch who has been the general manager, of the George since June 2005; prior to this Welch was general manager at the Radisson SAS on the Royal Mile for five years.
”The Principal-Hayley Group has sixteen other properties within its European portfolio, all iconic buildings in destination cities,” said Welch.
”A business focus on conference and banqueting worked well and was the lead that the George would follow as well.”
The new development also saw the creation of EH2 Tempus, a modern bar and restaurant with direct access from the central area of George Street. The cost of this development alone was in excess of ”2m.
Within two years the hotel has grown the total revenue by 50%. Improvements have been made in the hotel business mix, not only within conference and banqueting, but also the bedroom and restaurant/bar business.
Recently the group acquired the St David”s Hotel & Spa in Cardiff from Rocco Forte Hotels for ”33m and privately-owned Hawkstone Park and Golf Club in Shropshire for more than of ”10m.