Originally opened in 1902 it was designed by architect W. Hamilton Beattie
and was known as the North British Hotel, a traditional railway hotel built
for the North British Railway adjacent to their Waverley Station. It kept
the same name until the late 1980s when it was renamed the Balmoral Hotel
after refurbishment.

The building’s architecture is Victorian, influenced by the traditional Scottish baronial style

Given that the hotel is adjacent to the station, the clock is always set two minutes fast to ensure that people don't miss their trains.

from: Widipedia