Work has begun on a new £20 million luxury hotel in the Old Town.
This is part of a deal between the Carlton Hotel Collection and The EDI Group Ltd which is owned by the council. The development will take place on a site on Market Street next to Craig’s Close which has lain empty for half a century.
This is the last gap site on the northern boundary of the Old Town between Edinburgh Castle and North Bridge.
The hotel is expected to open in two years’ time with a top floor lounge allowing guests to enjoy panoramic views across Princes Street Gardens to Calton Hill.
Councillor Gavin Barrie, Chair at The EDI Group Ltd, said: “Delivering an outstanding luxury hotel in the heart of Edinburgh’s Old Town is a significant moment for the city’s tourism and leisure industry. The design of the building carefully balances old and new to support the city’s heritage status and we’re delighted that a key under-used site for the city will be brought back into use for residents and visitors to enjoy”.
Alfred Bree, Managing Director of Hotel Management Int. Ltd. (purchaser) and Carlton Hotel Collection (operator), said: “All of us at HMI and Carlton Hotel Collection are delighted that the construction of the new Market Street Hotel has started. Together with EDI (developer) and all other partners, we have been working very hard to plan and design a very special lifestyle hotel that is unique for Edinburgh.
“The hotel product has been designed by the award-winning interior design company, FG Stijl, with offices in Dubai and Amsterdam. Situated in its historic location, Market Street Hotel will offer 98 design rooms and a one of a kind top floor Penthouse lounge and bar, with spectacular views over Edinburgh.
“The interior design of this hotel will reflect the heritage of the location and will meet all demands of the international modern traveller. All at Carlton Hotel Collection are looking forward to the successful development of this historic site and to welcoming all in Spring 2018”.
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