Developer Dominvs Hospitality has submitted plans for a 308-bedroom, four-star hotel at its ex-employment exchange site in Manchester.
The hotel development will be part of the £50m Piccadilly Regeneration Project, a large mixed use site adjacent to Manchester's Piccadilly station.
The hospitality group said that the hotel would include an "award winning restaurant" as well as conference facilities.
Dominvs Hospitality director Preet Ahluwalia said: "The appeal to restore and revive life to such a historical and topical site was far too appealing to overlook.
"We as a group moved into the hospitality sector in April of 2012 with the initial acquisition of the Hotelier Group, a collection of three hotels operating in the Sheffield, Darlington and Dumfries areas."
The Manchester site is due to be launched to open in late 2015.