The riverfront hotel will have the largest ballroom in Europe, and extensive conference facilities with a single-room capacity of 3,000sqm.
Construction is expected to begin in the spring.
Jay Marciano, president and chief executive of AEG Europe, said: "We are delighted to conclude this transaction. We are very confident that the Arora team and our co-investors will ensure that the delivery of the hotel, serviced apartments and ballroom will be a major further piece in the jigsaw for the regeneration of the Greenwich Peninsula."
Surinder Arora, founder and chief executive of Arora, added: "I am delighted to be involved in such a high-profile scheme offering a unique marketing and events opportunity. The development will add high-quality accommodation and conference inventory to a vibrant and growing part of London."
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