The four-star hotel will support the city’s new cruise ship terminal that is planned for Princes Dock.
Subject to planning approval, construction work is scheduled to start on the hotel in 2019, with completion expected the following year.
Liverpool City Council is working with landowners Peel Land & Property in a £5bn regeneration of the Liverpool Waters development site.
Mayor of Liverpool Joe Anderson said: “Our new cruise liner terminal is vitally important to our growing tourism economy and will mean that once again we can welcome the greatest cruise ships in the world to the Mersey. The construction of this new terminal will mark a new chapter in the city’s maritime future as we create a world class experience for the cruise companies and their passengers.
“We are working with some of the very best in the engineering industry to deliver this facility to the very highest standards and this new hotel is a vital ingredient to the overall experience.”
John Foster, pre-construction director for Wates Construction North West, said: “Liverpool’s waterfront is one of the most recognisable in the world. Since the 1980s, its regeneration has created a successful and sustainable mixed-use area, which attracts over five million visitors to the city each year.
“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.”