LONDON-Corus & Regal Hotels has sold the Maitland Hotel, Shandwick Place, Edinburgh to the Townhouse Group for close to the asking price of £4 million ($6.7 million), The hotel, located just off Princes Street in the heart of the city, comprises 65-bedrooms, including ten executive rooms, a restaurant and a lounge bar.

This is the sixth hotel sold out of the planned disposal of 25 hotels that Corus & Regal Hotels plc announced in January.

Julian Troup, regional director of FPDSavills, who advised the purchaser, said: “Despite the uncertainty at the beginning of the year over the Gulf War and subsequently SARS, there was no lack of genuine interest in the hotel and several parties expressed serious interest.”

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