I was at a Christmas bash here last year and there has been a considerable amount of money spent on it. Two years ago it was a complete mess when we were there.
Cracking views of the Forth just now but by the looks of things the road alignment for the new bridge is going to be considerably nearer the hotel than the current one is.
It's owned by the Cairn Group who also manage the DT Newcastle Airport. If it's anywhere near as good as that one it will be a welcome addition.
IIRC there was planning permission to extend the hotel by around eighty rooms although I'm not sure if that is still going ahead or not.