Edinburgh’s Calton Hill has been announced as the site for a new luxury hotel for the uber-rich.
Three leading luxury hotel chains have been shortlisted to run the venture.
None of the three currently operate in Scotland.
The project would preserve the Royal High School, which has been mainly unused since 1968, and was
once a possible location for the Scottish Parliament.
From its elevated position on Calton Hill, the proposed hotel would offer stunning views of Arthur’s Seat, the Edinburgh skyline and East Lothian.
The project is forecast to deliver a £27 million annual boost to the Edinburgh’s economy.
It is estimated the hotel, would create 640 jobs and generate £32 million a year for the Scottish economy.
£55m of private funding has been secured from private investors to ensure the project can go-ahead without public funding.
The A-listed building will remain publicly-owned with the city council granting developers DPP a 125-year conditional lease.
The hotel will be designed by Gareth Hoskins, the award-winning architect behind the renovation of the National Museum of Scotland.