Fattal Hotels, owner of Jurys Inn, has revealed plans to invest £32m in the redevelopment and expansion of an existing Jurys Inn Edinburgh hotel and its neighbouring site.
The group recently acquired the freehold of the property and adjacent land on Jeffrey Street from the William Pears Group for an undisclosed consideration, with the transaction expected to close later this year.
The scheme, which remains subject to planning approval, will see Jurys Inn and Fattal undertake significant investment in the existing 186 room hotel, which could include the addition of up to 101 rooms.
Additionally, the group has proposed converting an adjacent listed building to a new 131-room NYX hotel and, separately, the development of 31 new residential units on the 1.2 acre Jeffrey Street site.
Fattal Group operates over 186 hotels in 17 countries, including the operating platform for all 36 hotels within the Jurys Inn portfolio, and the leaseholds for 15 Jurys Inn hotels.
Jason Carruthers, managing director of Jurys Inn, said: “We are pleased to have acquired the freehold of our very successful Jurys Inn Edinburgh hotel and the adjacent site, which will allow us to transform the site and significantly enhance our product offering and overall capacity in Edinburgh.
“Our Edinburgh hotel already runs at over 95% occupancy and the acquisition of the freehold there puts us in a strong position to capitalise on the ongoing influx of tourists to the vibrant city of Edinburgh and to leverage the prime location of our hotel and the adjacent site, which we look forward to developing.”