Grosvenor and Hongkong & Shanghai Hotels have won approval for a £500m luxury hotel called The Peninsula London at Grosvenor Place in London by 2021.
The hotel will have have 190 rooms, a ballroom, a spa and 28 residential apartments.
It has been designed by Marylebone-based Hopkins Architects and also features a walkway and main public entrance on Grosvenor Place and an internal palazzo-style courtyard.
The company runs 10 hotels, but only one in Europe, The Peninsula Paris, which opened last year.