London’s historical landmark, the Admiralty Arch, is slated to become a new luxury hotel after the government has agreed to lease it out for £60m to development company Prime Investors Capital (PIC). The Arch, which was completed in 1912 as a memorial to Queen Victoria, has been leased for 99 years.
The hotel will be a five star 100-bedroom venue with a ballroom, spa and a fine dining restaurant. There will also be royal and presidential suits, in addition to residential apartments.
As of now, no definitive timeline has been set as to when the new hotel will be open to the public.