The leaf-shaped five-star hotel - which will be the city's third 'railway hotel', alongside the Balmoral and Caledonian Hilton - will form the centrepiece of Irish developer Tiger's plans for the Haymarket Station area of Edinburgh.
Speaking to Edinburgh Evening News, Richard Murphy said Tiger's scheme - which also includes a 246-bed Travelodge and three office complexes - would provide a 'major shot in the arm' for the area.
Murphy said that the hotel would be a 'marker' for the start of the city centre, but also claimed that the tower - which will have views over Edinburgh Castle - would not be intrusive or block historic views.
He said: 'The Haymarket site deserves a building of significance and we believe the hotel will redefine Haymarket in the same way as the Balmoral transformed the Waverley Valley and the Caledonian Hotel enhanced the west end of Edinburgh.'
The glass- and stone-fronted 180-room hotel will open in 2012.