AEG Wants O2 Hotel

AEG Europe is seeking permission to build a 420-bedroom, four-star hotel next to London’s O2 Arena.

AEG hasn’t disclosed construction costs or its completion date, but the company already submitted a detailed planning application to the London Borough of Greenwich.

The Greenwich Peninsular site already has outline consent.

The hotel would also have adjoining serviced apartments and a large, multipurpose event space capable of holding a banquet for as many as 3,000 people.

The O2 has also had to endure difficulties of a tube service that at times has been so unreliable it has London Mayor Boris Johnson animated with rage.

AEG Europe chief exec David Campbell says the project isn’t “without challenges” but he welcomes the opportunity to put a hotel next to the old Millennium Dome complex.

“The O2 has already created more than 2,500 direct jobs in Greenwich. However, the real economic prize for Greenwich and East London is adding overnight visitors,” he explained.

Alistair Wood, AEG executive director for real estate and development, said there’s a significant lack of hotel space in the area and a new one would be welcomed by the 7.5 million annual visitors to The O2.

“We also see strong demand from the surrounding area including the soon to be Royal Borough of Greenwich, Canary Wharf, Excel, City Airport and new regeneration in this part of the Thames Gateway,” he said.

He believes the building Lifschutz Davidson Sandilands has designed fits well alongside the existing and proposed development of the area.

AEG is working with a shortlist of potential operators for the hotel. The proposed scheme is another step in the regeneration of the Greenwich Peninsula where AEG Europe is working closely with the Homes and Communities Agency and Meridian Delta Limited to create a new community alongside new jobs and bring economic benefit to the area.