PPHE Hotel Group has received improved planning consent for the development of Art'otel London Hoxton.
The final plans, which have been given the green light by Hackney Council, consist of five floors of office space and a 17-floor hotel with 343 bedrooms and suites.
The remaining five floors of the 27-storey development will include a gym, swimming pool and wellness facilities, as well as gallery space.
PPHE said that the site would include destination restaurants and bars including a rooftop lounge.
Work on the site will take begin in April 2019 with the hotel expected to open in 2023.
PPHE Hotel Group president and chief executive, Boris Ivesha, said: "We are delighted to have received planning consent for our improved and final scheme to develop the Art'otel London Hoxton site into a 27-floor property. We have huge aspirations for our wholly owned Art'otel brand at a global level, and with developments in progress in London's Hoxton and Battersea Power Station areas along with the recently announced New York City development, we believe we can create further value for shareholders and enhance the overall guest experience."Get The Caterer every week on your smartphone, tablet, or even in good old-fashioned hard copy (or all three!).