It's a hotel with a rich history - and a bright future.
The news gives us the perfect chance to look back at some Echo archive scenes from the hotel.
It welcomed star guests such as Marlene Dietrich and held all sorts of events from proms to fashion shows.
Awards nights, boxing events and evenings of clairvoyancy have also pulled in the crowds.
Have a look.
7. Farringdon in the photo
Farringdon under-8s squad before their awards presentation at the hotel in 2007. | se
8. Putting on a show
A children's stage workshop held by Dance Innovate at the hotel in 2008. | se
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