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.