The 72-bedroom hotel has been transformed from 18th century Buchan House into the the Malmaison site by development company S Harrison.
The hotel has created approximately 50 new jobs complements Malmaison’s Edinburgh Leith hotel, which was the first ever Malmaison to open in 1994.
The hotel which is currently owned by Frasers Hospitality, now has four outlets in the city. The £25m development which covered around 44,000 sq ft began in May last year.
Guus Bakker, CEO at Frasers Hospitality said: “Returning to the heart of where Malmaison started is a real milestone for us and we are looking forward to offering a fourth offering in the city.
“Edinburgh is such an integral and exciting city and the boutique elements of Malmaison and Chez Mal’s offerings really tie in well to the atmosphere and spirit of the Scottish capital.”
David Clancy, from S Harrison, added: “This development has brought a prominent building back to life, along with all its rich architectural heritage and Georgian period splendour.
“Our experience of sympathetically restoring historic and heritage buildings, combined with Malmaison’s vision for creating interiors that are distinctive, stylish and extremely luxurious, has ultimately created one of Scotland’s finest boutique hotels.”