The nine storey hotel will comprise of 370 luxurious modular bedrooms over eight floors, a ground floor cafe, bar, living room spaces and a SocietyM business club on the eighth and ninth levels.
Gregory Demolition is currently preparing the site to allow main construction work to start.
Traditional construction methods will be used to build the basement and ground floor.
Modular methods will be introduced to levels one to eight with the hotel rooms formed by double length pods with integral corridor sections.
These will be constructed and fully finished off site and then craned directly into place by tower cranes.
The new building will be constructed over the exit hall of the Tower Hill London Underground Station. The works will also include two new step free access routes, lifts to the station platforms, and re-landscaping of the adjacent public open space.
The main works of the hotel are programmed for completion in autumn 2014.