The Councillor for East Belfast said that not only would the project create a number of full and part-time jobs, it would also transform the former Scottish Mutual building close to City Hall into a vibrant part of Belfast City Centre.
Councillor Andrew Webb said: “I am delighted to hear that this iconic building in the heart of Belfast City Centre is set to be transformed. I welcome this investment as we move towards creating a shared city, attractive to tourists across the world.
“Vibrant cities require a good mix of retail, culture and leisure and this announcement is excellent, especially coming so soon after the recent G8 Summit – an open advert for Northern Ireland tourism.
“This project will greatly boost our local economy, from the skilled workforce employed to revamp the iconic Scottish Mutual building, to the full and part time employees the finished hotel will hire.
“Belfast City Centre is continuing to grow and develop and I hope to see more investment opportunities announced in the coming months.”