Upmarket hotel brand Intercontinental is to open its third London property in a new development next to the O2 Arena in Greenwich.

The Intercontinental London The O2 will be part of £121 million project called the Greenwich Peninsula. It will be the brand’s third property in the UK capital – it opened its second hotel Intercontinental Westminster in 2012.

The 19-storey hotel, which is scheduled to open in 2015, will have 452 rooms as well as 4,800 sq m of conference and events space plus several restaurants and bars, and a spa. The property will be operated by Arora Hotels.

Another major feature of the development is the 23-storey Peninsula Tower, which will include 100 serviced apartments.

Robert Shepherd, chief development officer for IHG Europe, said: “We’re delighted to be breaking ground on another Intercontinental hotel for London.

“We look forward to Intercontinental London The O2 sharing in the future success of its sister hotels, including the recently opened Intercontinental London Westminster and Intercontinental Marseilles Hotel Dieu.

London mayor Boris Johnson added: “I warmly welcome the proposal to bring this prestigious development to London. The project demonstrates great confidence in the city and will be a significant addition to the legacy east London is seeing following the London 2012 Olympic and Paralympic Games.”

Work started on the site on Friday (July 19) with a ceremony featuring local politicians.

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