The Kulm Hotel in St Moritz is to work with the legendary architect, who will oversee a refurbishment worth an estimated £5.4 million.

Foster will also work on the extension of the Ice Pavillon in Kulm Park. The pavilion stands between the main hotel building and Chesa al Parc, one of the hotel’s restaurants and the clubhouse for Kulm Golf St Moritz as well as the hotel’s outdoor winter ice rink and tennis courts.

The two-storey pavilion was built in 1905 and is a combination of Art Nouveau and traditional Swiss style but is in disrepair and in danger of collapse.

Foster’s design will breathe new life into the building, which played a key part in the 1928 and 1948 Olympics held in St Moritz.

The pavilion’s grandstand is also set to be the venue for the 33 medal ceremonies at the Ski World Championships, taking place in St Moritz in February 2017.

The main works will start from March once the current winter season is completed. Adjoining the Ice Pavillon will be the grandstand, with a new curved wooden roof, from where spectators will be able to watch events on the ice and open-air events such as Festival da Jazz in summer.

Heinz E Hunkeler, chief executive of the Kulm Hotel St Moritz and Grand Hotel Kronenhof, said: “This is a very exciting development for the Kulm Hotel, significantly expanding our facilities, while demonstrating the Niarchos family’s ongoing commitment to the Engadine community and its investment in the vitality of the valley.”