The hotel, situated just a 10-minute drive from Gatwick Airport, will also have its own restaurant, eight event rooms and 200 parking spaces.
Nine Group currently has 11 hotels under its portfolio, including the recently constructed Novotel Hotel at Heathrow Airport, the Holiday Inn at Watford Junction and the DoubleTree by Hilton in Reading.
Nine Hotel Group said the refurbishment will go ahead thanks to a £9m property development finance facility from Oaknorth Bank.
Vivek Chadha, managing director and founder of Nine Group, said: “The Menzies Chequers Gatwick building has a long history dating back to the 1500’s when it was a coaching inn during the Tudor period.
“It was serving travellers all that time ago, so we’re excited to be restoring it to its former glory and bringing the unique Nine Group approach to the design. The new hotel will boast premium facilities for guests travelling to and from Gatwick Airport, whether that be for business or pleasure.”