Owned and operated by GG Hospitality, which is headed by Giggs and Neville alongside managing director Stuart Procter, the 133-bedroom hotel will be located opposite Manchester United's Old Trafford stadium.
It will follow on from the launch in December 2013 of GG Hospitality's first venture, Café Football, in opened in Westfield Stratford.
Giggs and Neville are being supported in the hotel by Philip Neville, Paul Scholes and Nicky Butt, all fellow members of the Class of '92.
The hotel will feature Café Football Manchester, which will serve dishes that have proved popular at its London counterpart, including the Boss Burger and Café Football Sausage Roll.
Two-Michelin-starred chef, Michael Wignall has designed the menu in collaboration with Café Football's executive chef, Brendan Fyldes.
Meanwhile, the bedrooms will provide a 40" smart TV with a full Sky package, free Wi-Fi and a retro mini bar.
The hotel will be home to the Old Trafford Supporters Club and feature a rooftop football pitch, which will host events for up to 200 people. A further six meeting and event rooms will accommodate up to 500 guests.
Procter said: "The announcement of the official opening date and the sneak peak inside what is one of the UK's most unique hotel developments, is the next major milestone in this project. I'm looking forward to taking our very first bookings."
"We have built the foundations of a strong and experienced team to drive forward the opening of the Hotel Football later this year, but the 'transfer window' is still open and there is still room for many more recruits."