Whitbread has bought 191 Old Marylebone Road, NW1, for its next Hub by Premier Inn hotel.
It paid Aviva Investors £31m for the former office and plans to turn it into a 290-bedroom hotel, subject to planning.
The property was formerly an office for Omnicom, which has relocated to Southwark. A planning application for the hotel will be submitted later this year.
In total, 14 Hub by Premier Inn sites are either trading or in the development pipeline across England and Scotland, comprising more than 2,500 bedrooms.
Derek Griffin, head of acquisitions at Whitbread Hotels and Restaurants, said: “Locations are all-important and this new Marylebone site is outstanding, close to Marylebone station and Paddington too.
“We are investing in nearly 300 more bedrooms where we are confident customers will want them.”
Whitbread has a UK target of 85,000 bedrooms by 2020, up from around 65,000 today.
Premier Inn aims to open the Marylebone Hub by mid 2019.
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