Cheval Residences has opened is seventh serviced apartment business in London.
Located next to the Tower of London, Cheval Three Quays offers 159 apartments on a short- and long-term basis.
Each unit features Italian Dada kitchens and Lyndon furniture. Breakfast is served via hampers which include British products such as Dorset Cereals and Tower of London chocolate cookies.
A report from real estate company Savills, published in October 2013, said traditional hotels are facing increased competition from service apartments with investment in the sector expected to triple by 2018.