M&G Real Estate is funding the hotel and hotel school, which is being delivered by Qmile Group as part of its £350 million Haymarket Edinburgh development.

EICC CEO Marshall Dallas said: “Not only is the hotel integral to the future of the EICC, but we also see it being a key component in the return of business tourism to Edinburgh. From the very outset, sustainability was near the top of the agenda, it has always been a strong part of our offering as a venue, so we’re pleased to be setting a standard here.”

City of Edinburgh Council leader, Adam McVey, said: “The refreshed business case sets out a robust economic and social case to proceed with this exciting and ambitious development for our capital city. This project strengthens the offer of our publicly-owned EICC and delivers a bright future as conferences return to the city.

“The establishment of the hotel school will support and benefit our hospitality and tourism sectors by creating employment and training opportunities for local people who can then build a successful career in Edinburgh. This project is another sign of economic confidence in the capital as we recover and build a fairer and greener economy.”

The EICC will operate the 350-bedroom 4-star hotel under a franchise agreement with Hyatt Hotels Corporation, with the hotel addressing the conference delegate demand issues the EICC has historically faced.

The hotel is expected to create over 200 jobs and is set to open its doors as early as 2024.

George Gordon, EICC’s chair, said: “I would like to thank the EICC executive team, the EICC board and the City of Edinburgh Council’s officer working group who have worked extremely hard to bring an exciting opportunity and development to the city.

“The EICC Hotel School which will be run in association with Edinburgh College is an exciting new model of education, training and development which will bring forward a much needed professional recruits into the industry subsequent to the heavy losses of both Covid-19 and Brexit to the workforce. It will also secure the long-term future of the EICC, a venue that is internationally renowned for its amazing services and facilities which generates much needed kudos and income for the city.”

Marshall Dallas added: “Overall, we expect the hotel and hotel school to provide significant job creation and economic benefit to the city – which were some of the positive factors outlined to the City of Edinburgh Council when they reviewed the revised business case.”