Edinburgh News has reported that plans have been submitted by Ruby Hotels for a new 300-bedroom luxury hotel at 104-108 Princes Street, Edinburgh, Scotland.
A public consultation has already been held on the proposal.
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This £100m project will also feature retail space on the ground floor.
Ruby Hotels’ partner in the project development, Hunter Real Estate Investment Management (REIM), noted that this would be the largest investment in Princes Street since the opening of the Johnnie Walker Experience in September 2021.
Subject to planning approval, the development work of the project will commence next year, with the hotel expected to open in 2026.
The hotel will feature a rooftop bar providing views across Princes Street Gardens, the Ross Theatre and Edinburgh Castle.
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By GlobalDataIt is expected to generate more than 150 jobs during the construction phase.
The project will create over 250 permanent jobs once the hotel and retail space become operational.
Commenting on the proposals to the media outlet, Ruby Hotels group director Julian Mors said: “Edinburgh is one of the most vibrant tourist destinations in Europe and Ruby Hotels looks forward to creating a must-visit destination for residents and visitors in the heart of the city. We’re delighted to be able to bring the Ruby brand of affordable luxury to Scotland’s capital.”
Hunter REIM managing director Andrew Moffat said: “We’ve been delighted at the support and enthusiasm we’ve seen to transform Princes Street, which like many shopping destinations, has suffered from a changing retail landscape as well as the impact of the global pandemic.
“We’re confident our proposals will help Princes Street turn a corner and help restore the vibrancy of Edinburgh’s most famous of streets.”
