Munich-based hotel brand, Ruby Hotels has revealed plans to open a fourth London property in Southwark in 2024.

The brand, which pioneers a ‘lean luxury’ concept, is to build a new 169-bedroom property in a new public space called Friars Yard, close to the Tate Modern, the Southbank and Borough Market.

The building will comprise seven floors with a 24-hour bar, café and lounge located on the ground floor..

The project developer is Endurance Land and the investment partner is Angelo Gordon.

This is the fourth time Ruby has managed to secure a hotel project in the UK capital.

Following the opening of Ruby Lucy on the South Bank in early 2020, Ruby Zoe which will open in Notting Hill early 2023 and Ruby Stella, coming to Clerkenwell in 2023, the fourth project brings the total capacity to 571 hotel rooms in London.

Jonathan Fletcher, CEO of Endurance Land, commented, “We are delighted to have exchanged the agreement for lease with Ruby Hotels at 160 Blackfriars Road and look forward to welcoming them to the building in early 2024. Ruby’s ‘Lean Luxury’ brand is the ideal fit for the mixed-use development on the site.”