UK: Hospitality real estate group PPHE has received planning consent from Westminster City Council to develop a subterranean midscale lifestyle hotel within its Park Plaza Victoria London property.
At Park Plaza Victoria London, PPHE will convert 6,500 square metres of predominantly subterranean space into a 179-room hotel with a separate entrance.
A brand is yet to be announced for the development, though it will sit in the midscale lifestyle segment. The current 299-key Park Plaza hotel will continue to operate in its current form.
Detailed design, construction and funding plans are currently being prepared.
Boris Ivesha, president and CEO, PPHE Hotel Group, said: “This is an exciting new project utilising an existing asset and operations in a sought-after location to maximum effect.
“Situated in the heart of the city, this 179-room property will further enhance our London portfolio, broaden our accommodation proposition, enabling us to tap into a new guest demographic, whilst maximising returns. The strategy here is consistent with the group’s longstanding approach to building long-term shareholder value through the measured use of its balance sheet and tactical capital investment,” he added.
Elsewhere in the UK capital, PPHE will open its art’otel London Hoxton site in March 2024. It will mark the second branded art’otel in the city.