According to reports, Italian fashion house Armani is hoping to turn an iconic London landmark, the Admiralty Arch, into a luxury, £100 million hotel.

Giorgio Armani has opened his flagship Armani hotel in Milan, a joint venture with the Dubai developer Emaar Properties.

Located in the 1937 building that also houses Armani’s Manzoni 31 flagship, the hotel covers 162,000 square feet over floors two to eight.

The “palazzo” hotel, which is in the centre of the Italian city, boasts 95 rooms with a focus on “luxury, calm and beauty”.

Giorgio Armani, the man behind one of the world’s biggest fashion chains, is in talks with advisers over funding to build his first hotel in Britain.

The 200-plus room luxury venue could be built in Knightsbridge, west London, near the iconic Harrods store.

Among options under consideration is whether to convert office space or an old hotel into a £300million-plus site, the Dailymail reports.

Italian fashion designer Giorgio Armani categorically denies press reports that the luxury hotel brand is planning to develop a hotel in Russia’s Caucasus region.

“The Armani Group categorically states that reports of its intention to open an Armani Hotel in the Russian Caucasus are without foundation,” the Italian group said.

At the end of January, Russia’s Kommersant daily cited sources who claimed the Armani Hotels and Resorts brand was to open a hotel in the Stavropol region’s mineral springs resort area, together with other investors.

Italian fashion designer Giorgio Armani’s luxury hotel brand is planning to develop a hotel in Russia’s Caucasus region, a report said Friday.

Armani Hotels and Resorts, which opened its first development in Dubai last year, will launch another one in the Stavropol region’s mineral springs resort area, together with other investors, Kommersant daily reported.

Investment in the project, which is to be unveiled at the upscale MIPIM real estate show in Cannes in March, could surpass 150 million dollars, the report said.

This year has seen some high profile luxury properties opening around the world. Here, a roundup of the best.