London's beloved and futuristic BT tower sold for $347 million to be turned into a hotel

Futuristic London landmark the BT Tower is to become a hotel. Owner BT Group PLC said Wednesday that it has agreed to sell the tower to U.S. company MCR Hotels for $347 million. The 581-foot structure was completed in 1964 and was London’s tallest building until 1980. A further section of aerial rigging brought the total height to 620 feet. MCR Hotels plans to work with British architect Thomas Heatherwick on the hotel’s design. The hotel firm says it will “take a number of years” for BT to move out due to the complex equipment on site.