The 176 key Chelsea Hotel, is a steel frame structure being built on Osbourne Rd, Ikoyi. The project is bordered by the Osbourne Towers and is roughly the same height. BlackBorderBuild have provided a number of background information on the project in the past, so be sure to check it out; in the Hospitality Section. The firm behind the design is Impacto Grupo, of Spain.
December Updates: The Chelsea Hotel, as seen from different vantages. Images are Courtesy of AustynZOGS.