It's been at the heart of Edinburgh's entertainment scene for over 200 years and has launched the careers of initially unknown stars such as Stephen Fry, Hugh Laurie, Peter Kay and Lenny Henry to name but a few.
Initially providing the Edinburgh elite with a place to go and eat voulevants while bedecked in ostrich plumes and pearls, the grand old dame known as the Assembly Rooms is now on the brink of opening.
After an 18-month closure and a £9.3m refit, the George Street venue has had her skirts billowed out, freshened up and now she's ready to really let rip.
No-one could be more excited than her chaperone - Fringe Director Tommy Sheppard. With the Fringe programme for 2012 officially launched last night, we caught up with him this morning to see whether his excitement levels have risen even higher.
Tommy said: "It's looking delightful, absolutely fantastic. It's going to be easily the most comfortable and relaxed venue - better than anything that's gone before.
"We get the keys on the 25th so it's really exciting. We've been calling up regularly to ask how its been going and it's all been really positive so far."
The cornicing and chandeliers have indeed been spruced up and the walls have been painted in light, muted colours to compliment the historical architecture. The gold-leaf finishings have been delicately restored and refined and chef Jamie Oliver is already packing away his saucepans in preparation for the big move.
Tommy is keen to impress that this re-vamp is more about just the paint and the finishings though: "We are re-launching in a totally different way", he says excitedly. "On the physical side the building is going to look a lot better but it's the whole experience that's changing too.
"There will be a nicer turn-around time between shows. There will be less queues, more comfortable areas. We're creating a whole new environment."
The Assembly Rooms originally opened on January, 11, 1787 for the Caledonian Hunt Ball. The building was funded by public donations and cost just over £6,000. Designed by local architect John Henderson, who died young shortly after the building was completed, the site for the impressive structure was donated by the town council in the new and up and coming 'new town' part of the city.
This recent revamp is quite a bit over £6,000 but Tommy Sheppard believes the cost will be worth it, especially with the new changes they have been able to put in place.
He said: "We’ve teamed up with David Bates and our friends from the famous Spiegeltent to create a brand new outdoor area. We wanted to have a place where people could go and not be jostled. The Spiegel tent we're putting up on the outside terrace will be such a great addition, to have a place where you sit outside and have a cup of coffee after seeing a performance. It will definitely be a bit more continental".
The outdoor areas may be continental but the acts at the Fringe are still very much on an international scale with performed set to fly in from all over the world.
Tommy said: "We’re delighted too to welcome creative artists from all over the world, including flying in twelve of the finest Samba musicians from Brazil which will help to attract a whole new layer of people.
"We’re pleased to say that we offer better deals for performers than most other venues, knowing that if we look after them, they’ll perform better for you. And we’ve worked hard to keep ticket prices down when money is tight.
"A lot of people who know and love the Assembly rooms will come back to see what we've done and I think they will be pleasantly surprised. We really are doing something on a totally different scale but our Stand comedy club will still be there as it's always been with it's remarkably strong looking line-up."
Featuring a wide selection of celebrity names, new theatre, comedians and big-stage music spectaculars, organisers say their will still be a strong Scottish theme throughout including Scotland's national poet Liz Lochhead, WWEHardcore wrestler Mick Foley, Cabaret queen Camille, Labour politician Tony Benn, popular entertainer Les Dennis, stand-up Stewart Lee and top Scottish comedian Jerry Sadowitz.
"I think people are going to like it", says Tommy. "The enthusiasm and excitement is definitely building."