UK: Aparthotel Adagio has announced the signing of a 146-apartment property in Edinburgh’s Old Town.
The four-storey property is part of the New Waverley development
- the former Caltongate area - at the heart of Edinburgh's historic
Old Town, with frontages onto both the Royal Mile and the
The £150 million New Waverley development, by Artisan Real Estate Investors, will create a new city centre district for Edinburgh near the city's main railway station. The Adagio aparthotel will form part of the new £6.5 million public square at the heart of the development. The square will feature cafes, restaurants and shops.
Vangelis Porikis, Aparthotels Adagio director for central and northern Europe, said: "The Aparthotel Adagio offers an innovative solution for urban tourism and one we are particularly excited to launch in Edinburgh, a fantastic city of history, culture, business and thriving tourism. Aparthotels Adagio represent a travel concept for 'city breakers' that is smart, economical and immersed in the heart of the city. We are working hard with Artisan to ensure our new aparthotel is itself immersed in the history and culture of the city and gives our guests a base from which to enjoy this fantastic city and surrounding area."
Lukas Nakos, Artisan's managing director said: "There has been huge interest in the site from hotel operators around the world, and I am pleased that an operator of Adagio's stature and pedigree has chosen to invest in the city. High quality hotel provision will be the cornerstone of our development and innovative leisure concepts such as the Adagio Aparthotel will add vibrancy, excitement and colour to our plans. We will be placing strong emphasis on the quality of design and materials to ensure the hotels reflect their historic Royal Mile setting - as well as ensuring that the wider area benefits from the increased visitor spend."
Aparthotel Adagio is a sponsor of the 2014 Serviced Apartment Summit in London.