Corinthia Hotel London aims to be among the very best in British capital

International Hotel Investments plc aims to make its Corinthia Hotel in London among the very best in the UK's capital, chairman and CEO Alfred Pisani says.

"Corinthia Hotel London will be our flagship hotel, which will offer the best of London under one roof. It will create a tremendous exposure for the Corinthia brand and will uplift the value of all our other Corinthia properties," he said.

Situated in Whitehall, off Trafalgar Square by the river Thames, its location couldn't be better, making it the focal point for the best in London business, politics, arts and culture. The Houses of Parliament, Downing Street, the National Gallery, the South Bank Arts Centre and London Eye are all within easy reach and often within view for the hotel's bedrooms.

"IHI is the owner, developer and operator of its properties. London is IHI's seventh hotel, and since we co-purchased the property two years ago and started its full reconstruction, its value has increased significantly. In a nutshell, we make good acquisitions wherever we see the potential for capital growth. IHI has a track record of property development, successfully unlocking value in all our acquired real estate." Mr Pisani said.

Work on the hotel has progressed to a very advanced stage and Corinthia London is expected to be open for business early next year. The €300 million investment consists of the reconstruction of a landmark 19th century property, the former Metropole building, and its adjoining 10 Whitehall Place.

The 300-roomed luxury Corinthia Hotel will have the largest bedrooms, with an average size of 45-square metres, in its category in London. The project also includes a 3,500 square metre spa that adjoins the hotel and 12 deluxe residences including a 1,000-square metre penthouse. The residences will be fully serviced by the hotel and will be placed at the top end of the property market.

"The location of these luxury apartments is excellent. The entrance is through Whitehall and residents will have a 24-hour concierge service, direct access to the spa and hotel as well as underground parking facilities, which is quite extraordinary for a residence of this kind in central London. Clearly, our target audience for these residences will be people looking for a sophisticated address and we expect our typical clients to be from places such as the Gulf or Russia," he said.

The hotel will welcome both corporate and leisure clients from the upper end of the market.

The reconstruction of the Corinthia Hotel and Residencies in London is employing up to 1,000 people and is under the constant gaze and supervision of IHI's local project management representatives.

Mr Pisani himself visits London twice a month to view progress on the project and is very confident that the hotel will be a great success.

"The hotel is traditional, modern and elegant. Having such a prestigious hotel in the heart of London will add additional value and recognition to the Corinthia brand. The spin-off will be great," he points out.

Two sample hotel bedrooms have already been built and are used as a showcase for visitors such as the media and people in the travel or leisure industry.

The rooms are not only generous in space but furnished to the highest standards of luxury, glamour and elegance. They are equipped with the latest state-of-the-art technology.

The hotel will have seven distinguished and graceful duplex suites, five of them, including the Royal Suite, located on the top floor turrets, having spectacular terraces and views of the river Thames and Trafalgar Square. Each duplex suite has its own private staircase and internal lift.

The hotel's bars and restaurants, some of which designed by David Collins, will set new high standards for dining and patrons will be treated to a seafood specialty restaurant led by chef patron Massimo Riccioli, who owns one of Rome's finest and renowned Italian specialty fish restaurant.

The cocktail bar is to be a destination bar, attracting non-resident patrons, and is aimed at joining London's elite evening scene. The hotel's spa will be run by ESPA, the international award-winning wellness group and will be ESPA's global flagship.

IHI has assets worth over €1 billion. It also owns the Corinthia Hotel & Residences in Budapest, the Corinthia Hotel Lisbon, the Corinthia Hotel St George's Bay, the Corinthia Hotel Prague, the Corinthia Hotel and Commercial Centre in St Petersburg and the Corinthia Hotel and Commercial Centre in Tripoli.

The shareholders in IHI include principally the Corinthia Group and the Maltese public. IHI also owns 70 per cent of CHI, the multi-brand hotel operator, which manages 14 hotels including the IHI hotels, and another 10 owned by third parties, which are under development.