London's latest addition to the hotel market opens next month, hoping to attract not only well-heeled guests but well-positioned buyers as it showcases what comes with its £200m asking price.

The W Hotel, in the grimy tourist ghetto of Leicester Square, is a no-expense-spared, 192-bedroom development that is being marketed by Jones Lang LaSalle Hotels on behalf of Northern Irish developers McAleer & Rushe, who bought the former Swiss Centre building for £47m in 2004.

Industry sources have maintained the sale is not forced, but represents McAleer & Rushe's desire to fund 'reinvestment in new projects'.A spokesman for the developers said earlier this month that they'd had numerous direct approaches from parties interested in buying the building.

 He added: In light of the current strong demand for prime London property, we have appointed Jones Lang LaSalle to conduct a review of our best possible strategy.Our priority is to ensure the successful completion of this project on time and on budget.