Gansevoort founder to develop luxury hotel in Europe

Michael Achenbaum (pictured), the creative visionary behind New York-based Gansevoort Hotel Group, has partnered with Douglaston Development, SUSD and Hondo Enterprises to develop a full-service urban resort in East London’s fashionable Shoreditch district, set to break ground early next year. The $98 million project will feature 120 guest rooms with seven luxury suites, a restaurant, bi-level bar, rooftop swimming pool and lounge, 24-hour fitness centre, more than 540 square metres of meeting and event space, and a tech incubator. The property is expected to open in 2015.