Adagio Edinburgh Royal Mile exceeds performance expectations in first year

George Sell George Sell Uploaded 05 February 2018

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UK: Adagio Edinburgh Royal Mile, the first new look aparthotel from Aparthotels Adagio, is celebrating its one year anniversary.

The property is reporting more than £4.62 million pounds of revenue for the year, exceeding performance expectations by 44 per cent.
 
The four-storey Adagio Aparthotel has been constructed behind an existing façade of two 1930s tenement buildings - one of which is the C-listed Sailors Ark building, formerly an ex-serviceman's hostel which helped feed the city's homeless before and after the Second World War.

Located on Edinburgh's Royal Mile, the aparthotel is part of the award winning New Waverley development, a £200 million regeneration scheme in Edinburgh's Old Town. It has an overall performance rating of 88 on Trust You (the client feedback portal) with special mentions for customer service and a 4.5/5 rating on TripAdvisor.

General manager Jose Gómez said: "We are absolutely thrilled with the performance of the Adagio Edinburgh Royal Mile over the last 12 months, which is reflected in our fantastic end of year figures and customer ratings. We were the first new look aparthotel to open anywhere in the world so are delighted that it has been such an overwhelming success and has been so warmly received. We have been kept continuously busy throughout the year with the average occupancy at over 71 per cent, which is particularly good as an average for the aparthotel's first year of operations.

"My team have worked extremely hard to deliver these outstanding results and are committed to delivering the highest level of customer satisfaction. We're looking forward to building on these results in 2018. This is just the beginning," he added.
 
New Waverley project director, Clive Wilding said: "The combination of the aparthotel and public square has provided a much needed new dimension for Edinburgh's Royal Mile and the whole of the Old Town. It continues the significant momentum New Waverley has created in the city centre since we started construction less than three years ago. In the year since it has opened, the Adagio Aparthotel has seamlessly linked to the Royal Mile and provided a hugely popular focal point to the southern side of our development. It blends with the new public square to  provide a perfect platform on which to launch our next commercial construction phase. High quality office provision, new homes and more hospitality and retailers will complete this unique integrated development, sitting at the heart of one of the most historic and environmentally sensitive areas to be found anywhere in the world."
 

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