AEG has invested in a joint venture with Arora and Queensgate Investments to build a hotel directly linked to The O2.

Event Magazine’s Rachel Bull reports: The riverfront hotel will have the largest ballroom in Europe, and extensive conference facilities with a single-room capacity of 3,000sqm. Construction is expected to begin in Spring 2013.

Jay Marciano, president and chief executive of AEG Europe, said: “We are delighted to conclude this transaction. We are very confident that the Arora team and our co-investors will ensure that the delivery of the hotel, serviced apartments and ballroom will be a major further piece in the jigsaw for the regeneration of the Greenwich Peninsula.”

Surinder Arora, founder and chief executive of Arora, added: “I am delighted to be involved in such a high-profile scheme offering a unique marketing and events opportunity. The development will add high-quality accommodation and conference inventory to a vibrant and growing part of London.”

Source: Eventmagazine.co.uk – Rachel Bull