Victory House will have 86 sound-proofed rooms as well as the Petit Bistro restaurant on the ground floor, which is being created by restaurateurs Ed Baines and Jamie Poulton.
The property, which will have its official launch in September, will be part of Accor’s MGallery By Sofitel collection of independent boutique hotels.
Other new hotels in Leicester Square will include Hotel Indigo London - One Leicester Square from InterContinental Hotels Group, which is due to open in late 2017, while Edwardian Hotels London is scheduled to open a 350-room hotel in Leicester Square in 2019.
The rooms at Victory House will have a movie-based themed, reflecting the history of Leicester Square, including images of 1950s film icons, while silent 1950s movies will be projected in the lift and lobby.
The hotel is being developed in a building that was previously home to Hotel de l’Europe.
Aiden McAuley, senior vice president, operations Luxe Europe at Accorhotels, said: “Victory House, London Leicester Square is the latest addition to the MGallery portfolio and a new flagship hotel for the brand.
“With its rich heritage and unparalleled views overlooking London’s cinematic hub, the property provides a unique offering in the heart of the West End and a cosy retreat in the buzz of the city.”