Jurys Inn and its owner, Fattal Hotels, have revealed plans to invest c. €35.6m (£32m) in the redevelopment and expansion of the existing Jurys Inn Edinburgh hotel and its neighbouring site. This follows the announcement that they have agreed to acquire the freehold of the Edinburgh hotel and adjacent land on Jeffrey Street from the William Pears Group for an undisclosed consideration. The transaction is expected to close later this year.
The scheme, which remains subject to planning approval, will see Jurys Inn and Fattal undertake significant investment in the existing 186 room hotel, which could include the addition of up to 101 rooms. In addition, they have proposed converting an adjacent listed building to a new 131-room NYX hotel and, separately, the development of 31 new residential units on the 1.2-acre Jeffrey Street site. The NYX Hotel Edinburgh will be the first NYX hotel to open in the UK, providing the city with an exciting lifestyle hub of urban culture where guests can immerse themselves in Edinburgh’s creative scene.
Commenting on the acquisition and proposed scheme, Jason Carruthers, Managing Director of Jurys Inn, said: “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% 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.”
