Jurys Inn announces £32m investment in Edinburgh hotel
Jurys Inn has announced a £32m investment in the redevelopment and expansion of its Edinburgh hotel.
The group's owner Fattal Hotels made the announcement after reaching an agreement to acquire the property's freehold as well as adjacent land in Jeffrey Street for an undisclosed sum.
Work will see the addition of up to 101 rooms to the existing 186-room hotel.
As well as this a listed building on the adjacent land will be converted into a 131-bedroom NYX hotel, which will be operated by Jurys Inn. Another 31 residential units are planned for development on the site.
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."
The new hotel will be the first under Fattal Hotel's six-strong NYX lifestyle brand to open in the UK.
Israeli-based Fattal Hotels and Swedish hotel investment company Pandox purchased Jurys Inn's portfolio of 36 hotels from US private equity company Lone Star Funds for £800m in December last year.
The Fattal group operates more than 186 hotels in 17 countries.
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