Morgans Hotel Group Co., New York City, announced on Thursday that it has entered into a 25-year management agreement for the Sea Containers office building in London.
The building, located on in the city’s South Bank area along the River Thames, will be renovated with Morgans investing US$15 million into the project. The hotel is planned to open in 2014 with approximately 360 guestrooms as Mondrian London, the first Mondrian-branded hotel in Europe.
“We are very excited to announced our first Mondrian hotel in Europe,” said Michael Gross, Morgans CEO.
The 412,000 sq ft (38,270 sq m) property will be mixed-use, including 280,000 sq ft (26,000 sq m) of office space. The hotel will include a rooftop bar conceived by The Light Group.
Morgans already manages two London 5-star hotels, St. Martins Lane Hotel and Sanderson Hotel.