Wyndham Hotel Group and Cardiff-based developer Bayscape have unveiled plans for the construction of a new £60m waterfront hotel in Cardiff Bay.

The two companies have signed a 25-year management deal for the 32-storey Wyndham Cardiff, which will become the tallest building in Wales at 127m (417ft) high. Located on a site adjacent to the International Sports Village and the new 350-berth Cardiff Marina, the property has been designed by Custard Architecture and will boast 200 bedrooms and 35 serviced apartments.

The hotel is set to boast two restaurants and three bars, including a signature restaurant and bar on the 24th and 25th floor to offer views across Cardiff Bay, as well as a health bar and café. Other facilities will include an indoor swimming pool; a spa; a sauna; a whirlpool; a fitness centre and conference facilities, as well as 100 residential units, shops and offices. Private river bus rides to the city centre will also be provided for guests.

Malta-based operator CHI Hotels and Resorts will provide technical assistance and advice in the design of Wyndham Cardiff, which will contribute to the ongoing regeneration of the Cardiff Bay area. Cardiff Council leader Rodney Berman said: "This hotel, which will be the tallest building in Wales, is another landmark for Cardiff and a striking addition to Cardiff's International Sports Village.

"This shows that even in these difficult economic times the Welsh capital is a desirable place for world_renown companies to invest in and this hotel is going to complement all the exciting elements being delivered in Cardiff Bay." Work is due to start on the construction of Wyndham Cardiff towards the end of the year, with construction group VINCI appointed to deliver the scheme. The hotel is scheduled to take around two years to complete.