Bespoke Hotels has reached an agreement to operate a hotel at the former Coventry Telegraph offices in the city's Corporation Street.
Developer Complex Development Projects will begin the refurbishment of the building into a 100-bedroom hotel at the end of the year.
The building will retain original features, including its panelled boardroom and newspaper magnate Lord Iliffe's apartment. It will also feature a ground floor restaurant and bar, meeting rooms, penthouse suites and a rooftop bar after planning approval was granted by Coventry City Council on 16 July.
Bespoke Hotels chairman Robin Sheppard said: "This is an iconic building charged with much recent history of the City of Coventry with a really strong tone of voice from which we hope to deliver a rich narrative with nods to the 1950s heyday of the building and a cool contemporary twist.
"This will be a destination hotel with tons of character and a cheeky smile,"
CPD managing director Ian Harrabin added. "The project is unique and we needed an operator that embraced our vision for something that will be truly Coventry.
"We took advice from national hotel experts and Bespoke was our first choice of partner. We have been working with them for the past six months on the detail of the project and are happy that they share our enthusiasm for Coventry and recognise the opportunity of this unique building.