A new-build 130-bedroom Crowne Plaza hotel is to be developed close to Lambeth Palace on the Embankment in London.
Robert Shepherd, chief development officer at IHG said he was delighted to sign another hotel to one of the company's nine brands, which now boast more than 50 properties in London.
"We have an enormous opportunity to build on what has already been achieved in London and we are showing no signs of slowing down. The UK market offers a wealth of development opportunities that are yet to be realised".
Mudhar Shawkat, owner and director of Cannon Corporate said the new hotel will be an asset to London. "The need for fully equipped business minded hotels is ever increasing and we're looking forward to providing a wonderful hotel experience to our guests."
IHG franchises, leases, manages and owns more than 4,600 hotels worldwide, of which nearly 400 fall under the Crowne Plaza brand.