Willmott Dixon has won a £9.5m contract to create a 133-bed hotel in Tower Hamlets as it looks to win more work in the sector.
The firm will construct the Holiday Inn on Commercial Road for Ark Properties Investment and expects to complete work by March 2012.
The firm has targeted a £75 million turnover in hotel construction, fit-out and refurbishment over the next two years, according to its hotel sector manager Tim Wheeldon.
He said: “Hotel brands like Holiday Inn are investing heavily in their estate to ensure they have the coverage and the quality guests want, especially when you factor in the forthcoming demand created by the royal wedding and the London 2012 Olympic and Paralympic Games.
“We are delighted to be a partner in helping them achieve this and the Commercial Road project will provide excellent hotel accommodation close to the centre of London.”
Due to the growth in the hotel sector, Willmott Dixon has set up a dedicated hotel team at its Coleshill office in Birmingham, where it is working with investors and operators to provide the impetus needed to get projects started.
Pre-construction director for Willmott Dixon in the region, Nick Gibb, said: “We are looking to help partners unlock their hotel opportunities by bringing other parties to the table that provide land and investment.
“We are no longer prepared to wait for these things to happen when we can make them happen ourselves.”