Millennium & Copthorne (M&C) hotels has agreed terms with Londonewcastle, the central London developer for a four-star, 302-room Wembley hotel.
The property is being developed as part of a 500,000sq ft mixed-use hotel and residential scheme in London's Wembley, home of the England football team, which should open around 2010.
Work at Wembley has already seen two underground stations (Wembley Park and Wembley Central) upgraded as well as the national rail station Wembley Stadium National Rail.
The contract is subject to planning permission and the initial term of the deal will be for 20 years.
David Curtis Brignell, business development manager at M&C, said: "We're delighted to be working on this very exciting project which marks part of our growth strategy for the UK and Ireland.
"It's refreshing to work with a developer like Londonewcastle, which has the backing and the confidence to move forward, despite current economic challenges."
M&C run the hotels at Chelsea football club's Stamford Bridge ground in the capital.
By Rosie Birkett
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