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Ruby Hotels has officially submitted its plans for the development of a new £100m hotel in Edinburgh
The Ruby Edinburgh will open in 2026, one year later than originally planned, with the hotel brand working with Edinburgh-based real estate investment management company Hunter REIM to deliver the project.
The property will feature around 300 rooms spread across seven floors.
The hotel will also be home to a 24/7 bar and a rooftop terrace with panoramic views of both the World Heritage Edinburgh Castle and Edinburgh Old Town.
The site will occupy units left vacant by Next, Zara and Russell and Bromley which relocated to the St James Quarter.
Ruby Hotels said that the development is the “single largest” investment in Princes Street since the Johnnie Walker Experience opened in September 2021 and will be a major “boost for Edinburgh’s iconic street which has suffered from a changing retail landscape and the impact of the global pandemic”.
It is anticipated that planning will be determined in the late summer or early autumn, with building work to begin next year and the hotel expected to open in 2026.
Ruby Group already operates 15 Ruby hotels across Amsterdam, Florence and Munich, with a further 19 hotels under construction or in the planning phase.
Julian Mors, group director development at Ruby, said: “The hotel market in Edinburgh has proven to be very robust in the past, shows sustainable growth and offers a lot of potential for our concept, especially in the affordable luxury segment. We are very excited to enter the Scottish market with this great project.”
Andrew Moffat, head of real estate and investment at Hunter REIM, added: “Hunter REIM is delighted to be able to announce the next step in the regeneration of Princes Street in Edinburgh with the announcement of a new Ruby Hotel and associated retail development at 104-108 Princes Street. We believe we can deliver a significant improvement in the streetscape in Princes Street and, importantly, retain some retail space as part of the development.”
