Hotel investment growth boosts Edinburgh econ

A recent study from the Royal Mail named Edinburgh the most attractive city in the UK to both live and work in—an accolade that can be credited to the Scottish capital's uptick in investment, including in the hospitality sector. 

The city's booming tourism industry has been boosting the economy. In response, Edinburgh has been seeing strong demand from hotel and serviced apartment operators looking to capitalize on the year-round tourism industry success.

Recent hotel development and redevelopments across the city include the Edinburgh Grand and the Nira Caledonia. The Grand opened in early June 2018 with 50 apartments. The former Royal Bank of Scotland building was converted into the hotel as part of first phase of The Registers £85-million renovation program. Meanwhile the 28-room Nira Caledonia hotel, which the Shanti Hospitality Group owns, recently reopened. The property also underwent renovations totaling £1.4 million after one of the two townhouses sustained damages following a fire.