If Will Alsop's space-age design gets the go-ahead, the five-storey Puddledock, Blackfriars site will include a sheer glass front, a 400 person ballroom, bars, restaurants, a rooftop terrace and a spa.
The 28,000 square metre hotel will become the latest in a spate of new builds, as The Metropole last week begun a £200m refurb.
"The scheme is intended to rejuvenate one of the few remaining major development sites in the city," said a spokesperson for Alsop Architects.
Elsewhere, The Swiss Centre in Leicester Square and the former Playboy casino in Park Lane are also being converted into hotels.
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