Development work on the Penny Brook hotel scheme, which includes the neighbouring 137-room Adagio aparthotel, is expected to start this autumn.
The project, which has been designed by architect Matthew Grzywinski and will be managed by Tower8, includes the 249-bedroom Penny Brook boutique hotel.
Each room within the hotel, built within a 25-storey tower, will have recessed facades to optimise daylight and sunlight. The hotel is also expected to include restaurants and cafes on the ground floor, conference facilities and event space on the second floor and a restaurant and bar for hotel guests and members on the 23rd and 24th floors.
Eric Jafari, managing director of hotel developer and operator Union Hanover Securities said: “The unanimous backing of the London Legacy Development Corporation shows that they are as committed as we are to adding a new element of character to the Stratford masterplan.
"The planners share our vision of creating a leisure-led cultural quarter, underpinned by the unique essence of our hotel. We will seek to appeal to millennials who embrace the ‘anti-brand’ experience”.
Tower8 director Adam Mursal added: “The dual-operator development represents an exciting, New York-born solution to a challenging plot in an area of London that is continuing the momentum of the Olympic legacy. The team has been brave enough to utilise ambitious architectural designs to deliver a new ‘living room’ for Stratford."
The news comes just a week after Union Hanover secured planning permission to create an Urban Villa aparthotel in Edinburgh.