Nickelodeon mulls Leicester Square hotel

Children’s TV broadcaster Nickelodeon is looking at opening a hotel in Leicester Square as it prepares to open its first standalone flagship store there.

The American cable network, owned by Viacom International, has signed up with landlord Criterion Capital — which also owns Trocadero — for a shop at One Leicester Square, near M&M’s World.

Plans for the Nickelodeon hotel are under discussion after Criterion won planning permission this month for a 142-room hotel in the same block as the new shop.

Nickelodeon plans to use the shop — which will open in time for Christmas — to showcase products from its TV shows such as Spongebob Squarepants and Power Rangers as well as host interactive events.

The channel, famous for sliming celebrities such as David Beckham at its award shows, will then roll out its retail concept globally. Nickelodeon already operates stores on a concession basis and opened its first hotel more than 10 years ago — the Nickelodeon Suites Resort — in Orlando, Florida.

Asif Aziz, chief executive of Criterion, said: “Nickelodeon is yet another iconic brand to establish a foothold in Leicester Square.” Property agents Nash Bond and CBRE advised on the deal.

Criterion is trying to improve the area around Leicester Square and Piccadilly Circus and is in the process of converting the Trocodero into the West End’s biggest budget hotel.

It has agreed a deal with French group Accor to open a 583 room three star hotel.

The area also has a focus on childrens’ entertainment including the M&M World shop, which has been a hit with tourists, and the Ripley's Believe It or Not! exhibition.