Four-star group Apex Hotels has raised £54 million through the sale and leaseback of two hotels in Edinburgh.
The Apex International and Apex City on the city’s Grassmarket have been acquired by W G Mitchell. Apex will continue to run the two properties.
The company, which also has another hotel in Edinburgh, one in Dundee and another in London, said the funds would finance planned expansion.
The group is actively pursuing sites for hotel development throughout the UK, a statement said.
Report by Phil Davies
