The Jurys Doyle hotel group is expected to announce on Tuesday that it is to open a new hotel just off O'Connell Street in Dublin.
The new Jurys Inn is expected the be announced when the hotel group releases its results for the first six months of its current financial year.
A spokeswoman declined to comment when contacted yesterday.
The new hotel is expected to form part of a hotel, retail and office complex on a site which fronts onto Parnell Street and Moore Street. The site is jointly owned by Shelbourne Developments and Scotland-based Morrison Developments.
Planning permission for a hotel with approximately 200 bedrooms was granted more than three years ago, when it was expected the hotel would be managed under a contract with Shelbourne Developments.
The site was assembled over a period of two years and is bounded by Parnell Street, Moore Street, O'Rahilly Lane and Moore Lane. The repeated delay in developing the site has led to consideration that the site might be the subject of a compulsory purchase order by the City Council.
The German low price retail chain, Lidl, is expected to be the anchor tenant for the shopping centre to be associated with the development.
The other major German low cost retail chain, Aldi, has an outlet on Parnell Street, where it is believed to be trading exceptionally well.
The Jurys Doyle group's inns outlets have formed a successful element of the group's growth in recent years.
Davy Stockbrokers, in a forecast issued earlier this week, said it was expected that the inns would continue to outperform.
"We are forecasting a modest 2 per cent increase year on year in profits before tax, to €29.4 million," the stockbroking firm said in a statement.