Called The Pilgrm, the 73-room hotel is the brainchild of chief executive Jason Catifeoglou (pictured centre), Andreas Thrasyvoulou (Myhotels creator) and his son Steph Thrasyvoulou.

Catifeoglou left Zetter Group last year and had previously worked for Myhotels, as well as IHG.

He plans to open The Pilgrm with its “neighbourhood café” in the summer in Paddington’s Norfolk Square. There will also be a lounge bar and dining room on the first floor accommodating up to 30 covers.

The Pilgrm will be the result of a “multi-million pound refurbishment” of the old Royal Norfolk hotel on London Street, he said.

The name reflects the “journey travelled by its founders and future guests” - and the missing second “i” is deliberate. Catifeoglou is dyslexic, so at first it was just a spelling mistake but the trio loved the look of it as a brandname, so decided to go with it.

To try and create a more seamless experience, guests will be able to check in online prior to arrival, removing the need for a reception desk and traditional lobby.

The design is a collaboration between Catifeoglou and Tim Hubbard at 93ft. Their philosophy hinges on reclaimed and restored furnishings in the guestrooms, mixed with pieces by designer Tom Dixon, organic mattresses handmade in Devon and other touches such as Marshall speakers, yet rooms will start from £99 per night.

Catifeoglou said the aim is to tap into the “next generation of traveller looking for a richer experience, unrivalled value and modern luxury”.

He said having neighbours such as The Frontline Club, a hub for creative and journalists, and the Kioskafe by Monocle – opened in 2015 as a place to enjoy hundreds of magazines and newspapers – would further enhance the standing of the hotel, along with Crossrail’s arrival at Paddington in 2018.

“We present a new luxury to today’s traveller,” said Catifeoglou. “and we will combine the finest guest experience of today, with the finest British craftsmanship of yesterday.”