Plans have been lodged for a new £100 million hotel on one of Scotland’s most famous thoroughfares.
German Hotel giant Ruby is to open its first hotel in Scotland in 2026 under the plans for Princes Street in Edinburgh.
The Munich-based “lean luxury" hotel brand has submitted proposals for a 300-bedroom hotel that will form part of a seven-storey development by Hunter REIM and will also feature ground floor retail space and a rooftop bar. The site has most recently been home to retailers Next and Zara.
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The development is described as the largest single investment in Princes Street since the Johnnie Walker Experience opened in September 2021.
The proposal from Hunter REIM and Ruby Hotels has been subject to a significant public engagement last year that included two major consultation events and is the latest major department store vacancy to be subject to redevelopment on Princes Street.
Andrew Moffat, managing director of Hunter REIM said: “This is the biggest investment in Princes Street since the fantastic Johnnie Walker Experience.
“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.”
READ MORE: Hotelier to open its first ‘lean luxury’ hotel in Scotland
Roddy Smith, of Essential Edinburgh, said: “I warmly welcome these proposals which will be a welcome boost to Princes Street and Edinburgh.
"We’ve worked in close partnership with the City Council to tackle the impact that the shift to online retail has had on Princes Street and the city centre.
"These proposals are the latest in a wave of new development in the city centre, which has bounced back quicker than any other city centre in the UK outside London.
"Whilst there’s no room for complacency, it’s delivering investment like this that will make Princes Street even stronger and more vibrant.”
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Julian Mors, group director of Ruby Hotels said: “Edinburgh is one of the most vibrant tourism 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.”
The planning application has been submitted to the City of Edinburgh Council.
It is anticipated that this will be determined in the late summer or early autumn.
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