Global turmoil aside, London continues to intrigue and entice first-time visitors and travel veterans alike. For the moment, the global stock market plunge has weakened retail sales — shops are unusually quiet and Londoners are spending less. But with new financial regulations in place, London will continue to march forward as a premier business market. As it rides out the worldwide credit crisis, it is moving full steam ahead on development for the 2012 Summer Olympics.

One of the largest and most varied of the world’s cities, London is, at its heart, a collection of distinctive villages. From Knightsbridge to Mayfair, from the East End to South Bank, the financial capital’s resiliency is apparent. As in the past, London moves with confidence, regenerating itself time and time again.

Neighborhoods overlooked in the recent past are undergoing radical transformation. The East End, once a working-class district famed for Jack the Ripper and its Cockney population, has gone from grimy to glittering. Gentrified with art galleries and restaurants, it is being primed as the centerpiece for the Olympics. Meanwhile, Spitalfields and Shoreditch are on the development map and are becoming familiar names alongside The Docklands.

London’s mayor, Ken Livingstone, describes his city as the motor of the U.K. economy, a point that is difficult to dispute. A sustainable world-class city with a strong long-term economic outlook that embraces social inclusion and environmental progress, London is expected to have 8.1 million residents by 2016, an increase of 700,000 from the present day, with minority ethnic groups comprising about 30 percent of its population. Livingstone is banking on investment in transport, housing and services to sustain his city’s growth.

London’s cache of luxury hotels continues to expand and improve, keeping pace with a rich and vibrant economy that lures travelers from near and far. One of the most splendid renovations is the $140 million makeover of The Connaught, which partially reopened last year. The last phase of the renovation will debut later this year with a spa, an indoor pool and 33 additional guestrooms. The Maybourne Hotel Group, which owns The Connaught, has expansion plans for its other properties as well: Two floors will be added at Clairidge’s, while The Berkeley will add three new buildings adjacent to Hyde Park, comprising 12 residential apartments and 27 guestrooms.

The Four Seasons London is receiving a total makeover that will include an extra floor and a rooftop spa. It reopens in 2010. A $40 million refurbishment at the Rocco Forte Collection’s Brown’s Hotel in the heart of Mayfair has brought new life to this traditional charmer.

Some hotel properties have recently changed hands. The legendary Savoy, with its view of the Thames and proximity to the theater district, is now run by Fairmont Hotels and Resorts and will reopen in May 2009 after a $150 million grand-scale restoration. The historic Grosvenor House on Park Lane is now a 5-star JW Marriott Hotel. The St. James’s Hotel and Club, formerly a charming Old-World semi-private hotel, is now a 60-room Althoff Hotel Collection property with a Michelin-star chef.

In Knightsbridge, the upscale Mandarin Oriental Hotel Group will soon be managing a new residence adjacent to the Mandarin Oriental Hyde Park, London. The luxurious One Hyde Park will have 80 apartments with spectacular park views to the north and the Knightsbridge neighborhood to the south. Apartment owners will receive all the high-end Mandarin hotel services, including their well-regarded spa. When complete in 2009, the project will also offer more amenities to its hotel guests. Mandarin took control of the storied London hotel in 2000, which was originally built as a gentleman’s club in the late 19th century. Its elegant public rooms hosted dance lessons for Queen Elizabeth and her sister, the late Princess Margaret, as well as Margaret Thatcher’s 80th birthday celebration.

Two one-of-a-kind properties are also spiffing up. The Royal Horseguards, set in the historic Whitehall Court right on the Thames, has undergone extensive renovations to offer 280 state-of-the-art luxury guestrooms. The 19th-century property was once home to George Bernard Shaw and the British Secret Service. And famed chef Gordon Ramsey offers another newcomer, the somewhat offbeat York & Albany, a 10-room townhouse hotel and restaurant near Regent’s Park. His former protégé Angela Hartnett will be running the restaurant.

Predictably, London’s major airport, Heathrow, also underwent a major expansion last year. Its new Terminal 5, the largest freestanding building in the United Kingdom, is used exclusively by British Airways. In a further attempt to keep pace with increasing worldwide competition — and because there is no possibility for additional expansion at Heathrow — London is discussing plans for a new airport in the Thames estuary. For now, those who prefer to do business at the airport will find top-notch accommodations and food at the new Sofitel Heathrow, London at Terminal 5, which has employed the seasoned chef Albert Roux to oversee its dining room.

LODGING

THE BERKELEY KNIGHTSBRIDGE
This sophisticated, contemporary property has 214 guestrooms, including 65 suites, individually decorated and beautifully appointed by noted interior designers. It features an outstanding health club and spa with a heated rooftop pool and a courtyard terrace for relaxing. The Blue Bar is a favorite among savvy young Londoners, while the Caramel Room is a splendid spot for tea. A new Marcus Wareing restaurant includes a chef’s table that can accommodate up to eight guests. The Berkeley is located in Knightsbridge near the shops of Sloane Street and Belgravia.$$$$
THE BERKELEY KNIGHTSBRIDGE
Wilton Place
tel 44 20 7235 6000
http://www.the-berkeley.co.uk

THE CONNAUGHT
London’s beloved 110-year-old Connaught is being rejuvenated, albeit with strict adherence to old English tradition. Its small-hotel charm is intertwined with understated elegance and exceptional service. Among the amenities are 24/7 personal butler service and clothing storage for frequent guests. Chef Hélène Darroze, whose Paris restaurant holds two Michelin stars, is now at the helm of the Connaught’s restaurant. There are two inviting bars, the Connaught and the Coburg. Step outside to lively Mount Street, where upscale shops have moved in, further transforming this Victorian enclave.$$$$
THE CONNAUGHT
Carlos Place
tel 44 20 7499 7070
http://www.the-connaught.co.uk

ONE ALDWYCH
This stylish, modern hotel in a historic Edwardian building is located between The City and the West End. The 105 attractive guestrooms and suites feature Frette linens and feather and down duvets, and original art hangs in every room. The privately owned hotel has a first-rate health club and spa, a swimming pool with underwater music and two good restaurants, Axis and Indigo. The wildly popular Lobby Bar attracts a young crowd from the Financial District. Guests can walk to West End theaters and cross Waterloo Bridge to the National Theatre. To top it off, the one-hour pressing service is most appreciated by business travelers. $$$$
ONE ALDWYCH
One Aldwych
tel 44 20 7300 1000
http://www.onealdwych.co.uk

DINING

HÉLÈNE DARROZE AT THE CONNAUGHT
Enjoy a taste of Paris without crossing the Channel. Even if you’re not celebrating a special occasion, you’ll want to experience Darroze’s fine French cooking, inspired by her home in southwest France, along with signature dishes from her Michelin-starred Paris restaurant. My memorable lunch began with a foie gras crème brulée. More sumptuous dishes include her signature chipirons (squid) sautéed with chorizo and tomatoes, creamy black Carnaroli rice and young chicken with cepes (mushrooms).$$$$
HÉLÈNE DARROZE AT THE CONNAUGHT
The Connaught, Carlos Place, Mayfair
tel 44 20 7499 7070

SCOTT’S
This superb seafood restaurant, which started as an oyster warehouse about 150 years ago, has aged well. Recently renovated (it moved to Mount Street in the 1960s), it still has an Old London ambience, with wood-paneled décor and a warm, clu
bby atmosphere. The appealing menu is both traditional and modern, ranging from Red Sea prawns with chili and garlic butter to cod tongues with wild mushrooms and roasted bone marrow to fish on the bone. Along with the freshest, perfectly cooked fish, game is served in season. Be sure to book well in advance.$$$$
SCOTT’S
20 Mount St,
tel 44 20 7495 7309
http://www.scotts-restaurant.com

ST. ALBAN
The owners of the popular Wolseley have another winner, a sophisticated yet casual restaurant serving inventive Mediterranean food. St. Alban’s varied menu includes a French bean salad with black-olive dressing and a tasty Sardinian fish stew. Fish and game are roasted in a wood-fired oven, as are the delicious pizzas. A special fixed-price menu is offered pre- and post-theater and on weekends at lunch. $$$
ST. ALBAN
4–12 Lower Regent St.
tel 44 20 7499 8558
http://www.stalban.net

Checking in with Anthony Lee
General Manager of The Connaught

Global Traveler: You have been working in the heart of London for 29 years as general manager at The Connaught. How has London changed?

Anthony Lee: London continues to become richer in what it has to offer as a world destination. The quality of its restaurants, culture, museums and hotels has improved a great deal, and the art scene has grown immensely. Transportation has improved and become more accessible. I like to recommend that visitors purchase an Oyster Card — it makes it easy to get around the city on public transportation.

GT: What changes would you like to see?

AL: In my little enclave — specifically Mount Street — I would like to someday see the street just outside the hotel cobbled, to add to the historic charm of the area.

GT: There is so much to do in a city like London. What do you personally recommend to your guests?

AL: In the winter, I think ice skating at Somerset House is magical. When it’s warm, the best way to spend the day is bicycling and picnicking in Regent’s Park. And there are so many wonderful art galleries with excellent collections of modern and traditional art.

DIVERSIONS

In a city of this size there are endless ways to spend your free hours. Many visitors catch a show in the West End or across the Thames at the renowned National Theatre (http://national theatre.org.uk). But there is an abundance of alternatives.

While you may be happy to be on terra firma, especially after a long flight, British Airways Flight Training (http://www.ebaft.com) might have you flying again. Just a short distance from Heathrow Airport, budding aviators can try out flight simulators used to train BA pilots. After a half-hour tutorial, you’re at the controls of a Boeing jet for a one- or three-hour simulated flight. Prices range from $600 to $2,700.

Wine aficionados might want to visit Vinopolis, (No. 1 Bank End, tel 44 20 870 241 4040, http://www.vinopolis.co.uk). Situated on the South Bank between the London and Millennium bridges, this wine lovers’ paradise offers tours, tasting bars, restaurants and wine-related shopping. For the “spiritually” inclined, Vinopolis recently added Bombay sapphire and Caribbean rum sections.

On Saturday mornings, Pimlico Road morphs into a charming village market. Have breakfast and do some shopping at Daylesford Organic (448 Pimlico Road, tel 44 20 7881 8060, http://www.daylesfordorganic.com), a charming restaurant with a food and housewares shop owned by Lady Caroline Bamford (who is married to the wealthy businessman, Sir Anthony Bamford). Check out their terrific year-round cooking demonstrations and classes on such topics as matching food and wine or learning about mushrooms and truffles. This Gloucestershire-based farm operation has just opened a second, larger London store in Notting Hill Gate at Westborne Grove.

If the weather is good, visit London’s “secret garden,” the Chelsea Physic Garden (tel 44 20 7352 5646, http://www.chelseaphysicgarden.co.uk). Set on four acres, the garden is also home to the English Gardening School (tel 44 20 7352 4347, http://www.englishgardeningschool.co.uk) and features more than 6,000 shrubs, flowers and trees with medicinal or historical importance. Guided and audio tours are available, and serious gardeners can take a two-day course.

Need still more greenery? Consider a day on the British Pullman train, run by Orient-Express (http://www.orient-express.com). Head out from London for a variety of destinations throughout the year, including sporting events and historic homes and gardens — or just enjoy an over-the-top dining experience on board.

Just the Facts
Time Zone: GMT
Phone Code: 44 United Kingdom, 20 London
Currency: Pound
Entry/Exit Requirements: U.S. visitors must have a valid passport.
Official Language: English
Key Industries: Finance, tourism

INFO TO GO
London Heathrow (LHR), about six miles east of central London, is among the world’s busiest airports. A private-car service, such as Executive Carriage (tel 44 20 8693 2000, http://www.executivecarriage.co.uk), charges about $66 for transport to London. Licensed taxis are also available at the airport. Less expensive alternatives include the Heathrow Express nonstop trip to Paddington Station, about $25 for the 20-minute train ride, or the Piccadilly Line of the London Underground (the “Tube”), about $6 for the 50-minute ride. Save money on most public transport in London with an Oyster Card, available at any Tube station. Visit http://www.visitlondon.com .