Accor hotels announced today it has signed a deal for a new flagship Ibis hotel in London's Trocadero centre redevelopment.
The 600-bedroom hotel, which is still subject to planning permission, will be built in conjunction with Golfrate Holdings, the Isle of Man-based commercial investment property company.
Accor will manage the new Ibis Piccadilly hotel, which will be developed on the upper floors of the building and is due to open in 2009.
André Martinez Accor SA's board member for Europe, Middle East and Africa, said: "We are delighted to be partnering with Golfrate on the development of what will be the Ibis brand's European flagship hotel right in the heart of London's West End.
"Today's announcement reinforces our existing aggressive programme of organic expansion for our four major brands - Sofitel, Novotel, Ibis and Etap".
Michael Noak, Golfrate's business development manager added: "There is a significant requirement for affordable yet comfortable hotel rooms in central London, so we are certain this project will be successful. We are confident that the hotel will be open well in time for the 2012 Olympics."
Golfrate bought the Trocadero site from the Burford property group, for more than £220m in May 2005. Property consultants CB Richard Ellis Hotels advised on the current deal.
By Emily Manson
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