The owner of London's iconic Admiralty Arch is in talks with more than 12 luxury operators regarding the management of the property following its transformation into a five-star, 100-bedroom hotel.
Set to open as a hotel at the end of 2016 or early 2017, the Grade-I listed building was acquired on a 99-year lease by Prime Investors Capital (PIC) for £60m in October 2012, as part of a sell-off of unused government buildings to raise more than £1b for the nation's coffers.
PIC was granted planning permission by Westminster Council last year to go ahead with the redevelopment, which is currently in the design stage.
The hotel will incorporate at least three restaurants, a spa, health club, swimming pool, bars and roof terraces, as well as a private members' club.
A spokesperson for PIC said: "An operator for the hotel is not expected to be selected until next year but we have received a good number of proposals from more than 12 of the top-end operators worldwide."
Admiralty Arch is the second hotel in London to be developed by PIC, following the launch in 2012 of the 85-bedroom Bulgari hotel in Knightsbridge, which is managed by Marriott International.