The Business Case for the development by the Edinburgh International Conference Centre (EICC) was approved at a meeting of the City of Edinburgh Council on Thursday 12 March.
M&G Real Estate is funding the £350 million development of a brownfield site in the Haymarket area of the city, which will be developed by QMile Group. The completed hotel, which is part of the overall regeneration scheme, will be operated by the EICC under a franchise agreement with Hyatt Hotels Corporation.
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Finance and Resources Convener Cllr Alasdair Rankin said: "I'm pleased that councillors have backed the EICC's plans for a hotel and hotel school today. From examining the Business Case in forensic detail, as many councillors took the opportunity to do in recent weeks, it is clear that this project can offer significant employment and training opportunities for local people. It will also help ensure the long-term continued success of the EICC, while enhancing the ongoing regeneration of the Haymarket area, all with no expected call on Council budgets."
Vice Convener Joan Griffiths added: "The agreement between the Council and the EICC reflects the EICC's long-standing commitment to the Real Living Wage and includes the Fair Hospitality Charter, which is essential. I also welcome the focus on inclusive growth and sustainability in the well thought-through Business Case, which fits in neatly with our Economic Strategy and 2030 Carbon Neutral ambitions."
(MH/JG)
