Munich-based Ruby Group has announced its first project in Scotland, with a hotel planned for Edinburgh.
At the end of 2025, the lean luxury group will open Ruby Hotel Edinburgh, featuring around 300 rooms in the Scottish capital.
Partial conversion
The new Ruby Hotel will be a conversion with partial new construction of three connected buildings. With its extensive in-house expertise of converting existing buildings, Ruby is partnering with Scottish independent real estate investment management company Hunter REIM.
Located directly on Edinburgh’s well-known Princes Street, the latest site comprises around 300 rooms across seven floors. The hotel features a rooftop terrace with panoramic views of both the World Heritage Edinburgh Castle and Edinburgh Old Town. Public areas include a 24/7 bar.
Rapid expansion
The new signing follows successful openings in London and Dublin, with Ruby Group expanding rapidly despite the challenges in the European hotel market.
Several other London sites are in the offing, with Ruby Zoe London Notting Hill adding 173 keys in the west of the UK capital from March 2023, while the 153-room Ruby Hotel Stella Clerkenwell will follow in the centre of town in Q3 2023. Ruby Hotel London Southwark is also due to add 169 keys to the southeast central district.
Much potential
Julian Mörs, group director development at Ruby, commented: “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.”
Andrew Moffat, head of real estate and investment at Hunter REIM said: “Hunter REIM is delighted to be able to announce the next step in the regeneration of Princes Street in Edinburgh 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.”
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