Developers are hoping to begin construction as early as next year.

The eight-storey hotel is set to be located between Store Street and Moland Place in the city centre, and, alongside the railway line, will require the demolition of a two-storey brick building.

Additionally, a publicly-available courtyard area is also planned for pop-up food stalls beneath the railway arches at the southern end of the site, which is owned by CIE.

The hotel will be tourist-oriented and is not set to offer any parking spaces, however, it will offer 19 bicycle stands for staff and guests.

This is largely due to the proximity of the hotel to transport hubs like Connolly Station and Busáras.

A representative of MY Talbot Properties ltd told the Irish Independent that the hotel aims to 'bring life' back to Store Street, Moland Place and nearby Talbot Street.

“The more life, the more good product you can bring to that area, it rises every boat,” they said.

In a pre-planning meeting with Dublin City Council (DCC), it was reported that the authority was 'very receptive' to the idea of the hotel would add to the regeneration of the Talbot Street environs.

"They want some more life in the area, they want some more tourists in the area. We’re not going to reinvent the wheel or anything. The hotel industry has become very specialist over the last 10 years, but this time we’re just going to go with an international brand, if we get our planning that is,” they said.

Today, discussions are being held with Hilton Hotels and Holiday Inn about occupying the building upon completion, and in the event planning permission is granted, they hope to begin construction on the site this time next year with a goal to open in 2028.

Their application included endorsements from several neighbouring businesses for the development, as well as citywide business representative body Dublin Town.

The firm also spoke to neighbouring businesses about acquiring the entire block, and if permission is granted for the hotel, a ‘phase two’ of the development, but the representative has urged that talks are at an early stage.

"Our first aim is to get planning permission on the site that we own at the moment, and we’re in negotiations with our neighbours to try and see if there’s any way we can get some presence on Talbot Street or maybe get some more bedrooms.

"I suppose in the real world, I can think whatever I like, but when you go in and tell the planners, ultimately they’re the bosses.”

They added that many neighbouring businesses were looking to either retire or step back from the street, creating a 'sweet spot' to be bought out by the company.