Fattal Hotels, owner of Jurys Inn, has announced it will invest £32 million in the redevelopment and expansion of the existing Jurys Inn Edinburgh.
The company has agreed to acquire the freehold of the property and adjacent land on Jeffrey Street from the William Pears Group for an undisclosed sum, with the transaction expected to close later this year.
In the redevelopment scheme, which remains subject to planning approval, the hotel could see 101 rooms added.
Fattal has also proposed converting an adjacent listed building into a new 131-room NYX hotel, as well as a separate development of 31 new residential units on the 1.2-acre Jeffrey Street site.
If the plan goes ahead, the NYX property would be the first in the UK for the brand.
Jason Carruthers, MD of Jurys Inn, commented: “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 per cent 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.”