NH Hotel Group and AXA Investment Managers are to invest £90m in a new 190-bedroom NHow hotel due to open at 250 City Road in London by 2019.
The four star hotel is the second UK property for the NH Hotel Group, and will be operated under its NHow brand.
Located in a 5.5 acre mixed-use new development, designed by the world renowned architect Lord Norman Foster’s studio, Foster + Partners, the 8-floor hotel will feature a restaurant, bar, gym and meeting rooms.
The site is adjacent to the Old Street roundabout, where the wider 250 City Road scheme occupies a 5.5-acre site and will comprise 75,000 sq ft of office space, 40,000 sq ft of retail space and 933 homes.
The NH Group has over 400 hotels worldwide and Nhow is already present in Milan, Berlin and Rotterdam, and is expected to reach 12 additional destinations by 2018.
In addition to the current Nhow hotels opened and the one signed in London, the company has two other ongoing Nhow projects; one in Amsterdam and another development in Santiago de Chile.