Plans have been unveiled to develop the first Virgin hotel outside of the United States of America in Edinburgh’s Old Town.

Virgin Hotels has selected the city’s India Buildings at 1-6 Victoria Street, with an opening date scheduled for 2020.

The hotel will feature 225 rooms, numerous meeting spaces as well as multiple dining and drinking outlets. The project will be completed in partnership with owner Flemyn and developer Jansons Property and will be managed by Virgin Hotels, and asset managed by Siggis Capital.

Sir Richard Branson, founder of the Virgin Group, said: “Edinburgh is such an iconic city and we’re thrilled to be able to say it will be the home of the first Virgin Hotel in the UK and across Europe.”

Councillor Gavin Barrie, housing and economy convener, said: “This is an exciting announcement and a huge coup for Edinburgh; it really is testament to the city’s resilience during these uncertain times that Virgin Hotels has chosen Edinburgh as the first city outside the US in which to open a new hotel.”

Councillor Barrie added it is estimated the hotel will provide a £5 million boost to the local community every year, as well as supporting hundreds of jobs during its construction.