Aprirose has bought 52 Poland Street, W1, for £30m and plans to convert it into a boutique Z Hotel.
The site was acquired from Quantum Global and planning consent for a 110-bed hotel was granted on 10 January.
The Z Hotel brand specialises in offering compact luxury hotels in prime locations and has branches in London, Liverpool and Glasgow.
Manish Gudka, chief executive of Aprirose, said: “With the fall in the value of sterling we continue to see an increase in international tourists visiting the UK, which is driving demand for more hotel beds and opening the market to new brands.”
Aprirose currently has 2,050 hotel rooms under management in its £1bn portfolio.
The new hotel is expected to open by end of 2017.
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