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OTRC: Prince William and Kate Middleton to marry in April at Westminster Abbey

Prince William and Kate Middletown will marry on April 29, 2011 at Westminster Abbey, the site of the 1997 funeral of his mother, Princess Diana, as well as the 1947 wedding of his grandmother, Queen Elizabeth II.

The British Monarchy announced the date and venue on its Twitter page following a week of speculation. William and Middleton are 28 and met eight years ago when they were students. They announced their engagement last week and she showcased her ring, which belonged to Diana.

Westminster Abbey, formally known as the Collegiate Church of St Peter, can seat 2,000 people and is a place of daily worship. It is also the location where 38 kings and queens were crowned and the site of 17 funerals of monarchs.

Royal Aides said Prince William and Middleton chose the venue due to its "staggering beauty, its 1,000 years of royal history and its relative intimacy despite its size," the UK Newspaper The Telegraph reported.

The date of the wedding falls on a Friday and will be marked as a national holiday in the United Kingdom.

"We want to mark the day as one of national celebration - a public holiday will ensure the most people possible will have a chance to celebrate on the day," British Prime Minister David Cameron said in a statement.

The wedding is expected to boost Britain's economy by almost $1 billion. The Royal family and the Middletons will pay for the majority of the costs, while taxpayer pounds will be used to cover security, policing and cleaning streets, The Telegraph said.

William, the second in line to the British throne after Charles, and Middleton had said in a television interview that they would wed in either the spring or the summer of next year. Officials say after the marriage, the couple will live in North Wales, where William, who's second in line to the throne, will continue to serve with the Royal Air Force.

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