PPHE Hotel Group has received planning consent from Westminster City Council to develop a new hotel within the Park Plaza Victoria London property. The hotel will consist of 179 guest rooms and will be a dual-branded hotel, with the Upper Upscale Park Plaza Victoria London and a Midscale Lifestyle product. The development will involve converting 6,500 square meters of predominantly subterranean space into the new hotel. The existing 299-key Park Plaza Victoria London hotel will continue to operate as a standalone property. The Group expects to significantly increase the asset valuation and yield upon completion of the project. Detailed design, construction, and funding plans are currently being prepared.