The £3.5m George Street Hotel in Oxford was unveiled last week after 10 years in the pipeline.
Plans to convert the three floors above TSB Bank and George Street Cafe from empty offices into a hotel were originally floated in 2006. Planning permission was granted in the same year.
The hotel is home to 41 rooms in total, with the original proposal including a restaurant and gym which were then dropped in favour of more bedrooms.
The price for a standard room is being set at £185, which is at the high-end of the Oxford market.
Co-owner Hardeep Gidda is aiming to compete against current Oxford establishments like The Randolph and Malmaison and hopes that the new hotel will have a positive impact on the local area.
Speaking to the Oxford Mail, he said: “We hope the hotel will have a huge impact on George Street and the whole city. Of course we would like to attract international visitors and when they come to Oxford we want them to have a positive reflection of the city.
The new George Street Hotel also gets the seal of approval from Oxford City Council, as it’s been pushing for more hotels in the city over the past few years.
Council leader Bob Price said: “It’s what we are looking for; it’s in a great location really close to restaurants, shops and the theatre. It’s also at the high end of the hotel market.
“We want more hotels in the city centre for our visitors it’s great to see this open.”
Adding a touch of pizazz to the event was the presence of England World Cup-winning goalkeeper Gordon Banks, who officially ‘opened’ the venue.
Banks was full of his own praise for the new hotel, saying: “It’s a very nice hotel – they’ve spent a lot of money on it.”