The Intercontinental London Westminster hotel will become a Hilton Conrad this September.
IHG confirmed that it has signed an agreement with Supreme Hotels, the owners of the London property, to terminate the management deal for the hotel.
The 256-room Conrad Westminster will be located between Westminster Abbey and Buckingham Palace and will open in September 2014.
The London property will join the Hilton Worldwide portfolio of 23 existing Conrad hotels and resorts worldwide, including Dublin, Dubai, Portugal and Istanbul.
The six-floor hotel will include 42 premium rooms, suites and a penthouse. All rooms will come with a king-size or twin beds, a bath, a walk-in shower and free wifi.
The hotel will also feature a Club Lounge, a media hub, a 24-hour business centre, seven fully-equipped meeting rooms, a restaurant, a bar, and the Whitehall Suite, which can accommodate up to 300 people.
John TA Vanderslice, global head of Conrad Hotels & Resorts, said: "London continues to be a political, cultural, and economic powerhouse in the world, which makes it a natural destination for international travellers.”