ONE of Edinburgh's best-known hotels, The Roxburghe, has been sold to a US-based investment management firm.

The four-star hotel in Charlotte Square has been bought by Starwood Capital, which has been expanding its portfolio in the UK. Keith McBain, Director of JLL's Hotel and Hospitality Group which managed the selling process, said: "This is a landmark deal for the Scottish market, underlining its status as a hugely attractive destination for investors.

"The hotel, which has 199 guest rooms, has seen continual investment to improve the facilities for visitors since it was purchased in the late 1990s and we expect the new owners to continue that trend."

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The Roxburghe was previously part of the Crowne Plaza group.