Crossfield Exclusive Developments is behind the scheme. The firm is a joint venture between Crossfield Group and Exclusive Investments.
Crossfield Construction, which is a division of Crossfield Group, has been appointed main contractor.
The hotel plot is adjacent to the Baltic View residential scheme by Crossfield Exclusive Developments which is also being built by Crossfield Construction.
David Cain, managing director of Crossfield Exclusive Developments and Crossfield Group said: “As the appeal of the Baltic Triangle grows the demand for hotel rooms in the area is on the up.
“This development will offer high quality, four-star hotel rooms that will attract both tourists and business travellers, adding to the economy of the Baltic area and the City in general.”
David Ayem, director at Crossfield Exclusive Developments said: “We are proud to be able regenerate and revitalise abandoned sites within the City and, through both the Baltic View development and now our hotel venture, we are making a major investment in turning around these derelict parts of the Baltic Triangle.”
The scheme has been designed by architects Brock Carmichael.