PREM acquires Edinburgh property

PREM Group has acquired a new location in Edinburgh to add to its PREMIER SUITES portfolio.  The property, currently known as "Fountain Court" will now become the 16th PREMIER SUITES location for the PREM Group.

In December 2021, PREM Group secured a major investment from funds managed by affiliates of Fortress Investment Group LLC.  This is the first acquisition by the group following the Fortress investment. The property is in a prime location, just a five-minute walk from the burgeoning Haymarket district and a twenty-minute walk to Princes Street. The location is very attractive for both corporate and leisure guests who will find all the best retail, hospitality, and cultural experiences on their doorstep.

PREM Group envisage a complete renovation and transformation of the property to the highest possible ESG standards. The very latest in green technology will be incorporated into the building. The first phase of the renovation should be completed by January 2023. Following the renovation, the property will join the group’s premium PREMIER SUITES portfolio, comprising 1,300 rooms across the United Kingdom, Ireland, Belgium and the Netherlands.