The founder and chief executive of Glasgow-based Chardon Management, which manages 35 hotels and seven health and fitness clubs across the UK, said his latest project would help Edinburgh become an "international gateway".
Mr Taylor said: "Planning approval for this hotel represents more good news for Edinburgh, marking a further stage in the development of the Edinburgh International project's aim to enhance, via Edinburgh Airport, the city's global connectivity by developing the area as an international gateway into Scotland."
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The Edinburgh International initiative is a partnership between the airport and a range of other bodies, including Edinburgh City Council and Scottish Enterprise, which aims to create a "global hub" to the west of the city in a bid to attract more investment into Scotland.
Global Infrastructure Partners bought the airport for £807m from BAA last month and has committed itself to creating more direct links with global destinations after welcoming the inaugural flight from the capital to Istanbul earlier this month.
Taylor said the 125-bedroom hotel will be aimed at the "deluxe budget" market and operated by Chardon's Ingliston Hotels division under franchise from a "major international" hotel group, although the identity of that brand is yet to be announced.
Timescales for construction have not yet been determined.
(NE)
