The 120,000 square foot freehold site close to New Scotland Yard is currently office and retail space.
The hotel will be the second InterContinental hotel in the capital. InterContinental London Park Lane was first opened in 1975, and reopened following extensive renovations in 2006 in celebration of the brand's sixtieth anniversary.
Shiraz Boghani, managing partner of Splendid Hotel Group, said: "This is by far the largest project we've taken on. We specialise in providing the best hotel accommodation in major cities in the UK and the new InterContinental London Westminster will be a great addition to our portfolio. The strength of the InterContinental brand and the site's location, close to some of the city's most famous attractions, makes it the perfect deal for us."
IHG has 158 InterContinental Hotels & Resorts in 60 countries across the world and 67 hotels in the pipeline.
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Alexandra Da Cunha
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Notes to Editors:
InterContinental Hotels Group (IHG) [LON:IHG, NYSE:IHG (ADRs)] is the world’s largest hotel group by number of rooms. IHG owns, manages, leases or franchises, through various subsidiaries, over 4,300 hotels and almost 630,000 guest rooms in nearly 100 countries and territories around the world. The Group owns a portfolio of well recognised and respected hotel brands including InterContinental® Hotels & Resorts, Hotel Indigo®, Crowne Plaza® Hotels & Resorts, Holiday Inn® Hotels and Resorts, Holiday Inn Express®, Staybridge Suites® and Candlewood Suites®, and also manages the world’s largest hotel loyalty programme, Priority Club® Rewards with 44 million members worldwide.
IHG has nearly 1,600 hotels in its development pipeline, which will create 140,000 jobs worldwide over the next few years.
InterContinental Hotels Group PLC is the Group’s holding company and is incorporated in Great Britain and registered in England and Wales.
IHG offers information and online reservations for all its hotel brands at www.ihg.com and information for the Priority Club Rewards programme at www.priorityclub.com. For the latest news from IHG, visit our online Press Office at www.ihg.com/media