Malaysia-based budget chain Tune Hotels.com has made 1,000 rooms available for 1p as part of a new promotion to mark the launch of its first property in London.

The operator's Westminster Bridge Road hotel is due to open in August - the first of 15 locations scheduled to open across the Greater London area over the next seven years. Tune Hotels.com plans will create 1,500 more rooms and represent an investment worth £150m in the capital's hotel sector, while contributing towards efforts to establish 100 hotels globally by 2015.

The company currently operates nine properties across the Asia-Pacific region, which are modelled on a budget airline concept and aim to offer guests 'pay-as-you-use' amenities such as televisions and hairdryers. Tune Hotels.com group chief executive officer Mark Lankester said: "Our opening offer of a room for a penny is outstanding and we hope it will encourage people who may not yet know about the Tune Hotels.com brand to try staying in one of our properties.

"We are targeting the savvy traveller - leisure, business, and those who prefer the idea of an affordable night in a hotel to an expensive cab ride home."