Redefine International buys the Doubletree by Hilton Hotel in Edinburgh

Redefine International, a UK-based Real Estate Investment Trust, purchased the Doubletree by Hilton Hotel in Edinburgh's city center for $41.27 million, representing a net initial yield of approximately 6.9 percent.

The Hotel has 138 bedrooms which have recently been refurbished. The five story hotel has F&B options, meeting rooms and a fitness center.

The acquisition also includes the separate heritable title of The Chanter public house, located on the ground and basement floors of the property.

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The hotel will be let to Redefine Hotel Management, a wholly owned subsidiary of Redefine BDL Hotel Group Limited, in which Redefine International has a 25.28 percent stake.