• Algonquin buys Novotel Edinburgh Park

Algonquin, the French private equity group, has partnered with Benson Elliot Capital Management to buy the Novotel Edinburgh Park from administrators for an undisclosed fee, according to The Times.

Jones Lang LaSalle Hotels was handling the sale on behalf of administrators KPMG after the collapse of developers EBH Ltd in November last year. The 170-room hotel opened in 2008.

See the full story here: http://www.thetimes.co.uk/tto/public/needtoknow/

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