The 275,000sq.ft hotel complex will be built as part of The International Quarter in Stratford, a 22-acre site which is being developed by property group Lend Lease and Government-owned company London & Continental Railways (LCR).
Overlooking East Village, the former Athletes' Village, the 500-bedroom hotel complex will feature a four-star hotel, which will be operated under a yet-to-be-announced international brand, and a luxury Urban Villa aparthotel.
Starboard Atlantic Hotels
The hotel complex will be directly adjacent to Westfield Stratford City, Queen Elizabeth Olympic Park and Stratford International train station.
"We are thrilled to have secured such a prominent site for a hotel in the heart of the Park, close to Westfield and Stratford International," said Paul Callingham, managing director of Starboard Hotels.
"The Olympic Park has become one of the most iconic venues in London and plans for creating a legacy on the site will ensure that it remains a key hub for both business and leisure in East London."
The Stratford hotel complex is scheduled to open in 2016 subject to planning approval.
"The Starboard Atlantic Hotels offering will provide a mix of four-star hotel space, luxury aparthotel and first-class restaurant facilities,” Callingham added.
“We are in discussions with a number of brand partners for the hotel itself, whilst we will be expanding the Urban Villa concept, currently being rolled out across the country by Union Hanover.”
The new project has been backed by hotel development investment firm BridgePoint Ventures which is already working with Starboard Hotels and Union Hanover Securities on the expansion of the luxury hostel brand Hoax.
Eric Jafari, BridgePoint Ventures chief executive, said: "There is a clear supply gap in branded extended stay hotels in cities across the UK and I believe that Urban Villa is the most suitable product to fill this gap.
“With five key city centre sites secured so far and over 950 units in development, Urban Villa is positioned to become the extended stay market leader within the next five years."
As well as the hotel complex, The International Quarter is expected to feature office space, 350 new homes to go on sale in early 2014 and over 52,000sq.ft of shops and restaurants.