Ruby hotel set for Princes Street
The project will see Ruby open its first hotel in the UK outwith London.
Munich, Germany-based "lean luxury" hotel brand Ruby is to open a new hotel on Princes Street in Edinburgh city centre.
The 300-bedroom hotel will form part of a £100 million seven storey development by Hunter REIM that will also feature ground floor retail space and a rooftop bar. The hotel will be located at 104-108 Princes Street, most recently home to the fashion retailers Next and Zara. Located directly opposite Princes Street Gardens, the hotel will offer spectacular views to Edinburgh Castle.
The hotel is planned to open in late-2025, with an initial public consultation to begin later this month. Upon completion, the development is expected to support over 250 jobs.
The announcement means that all major vacant buildings on Princes Street are now in the process of being redeveloped to bring them back into productive use.
"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."
Julian Mörs, Group Director for Development, Ruby
"We are delighted to be able to announce the next step in the regeneration of Princes Street 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."
Andrew Moffat, Director, Hunter REIM