The four-star hotel project was awarded through the Scape national construction framework for the city council.
Subject to planning approval, work is scheduled to start in 2019, with completion expected the following year.
As part of the construction of the hotel, Wates has also committed to providing training and employment opportunities for local people to help boost the local economy.
The commitments include apprenticeship opportunities with Wates and its supply chain partners, and work experience placements for local students. A number of new full-time jobs will also be created, including a graduate-level role.
Its appointment follows a successful first 15 months on Scape’s National Construction framework, with a total of 30 projects either submitted or active and a potential pipeline of more than £500m – including projects worth £340m already in feasibility.
John Foster, pre-construction director for Wates Construction North West, said: “The Liverpool Cruise Terminal hotel is just one example of the exciting and important projects that we have been appointed to build through Scape’s National Construction framework.
“As our work on the framework progresses, we look forward to building on our portfolio and maintaining our standing as one of the most trusted partners of government and the public sector.”