Construction is under way for the first four-star hotel in Dublin's Liberties.
The €50 million investment will also mean Ireland will get its first Hyatt Hotel.
It is designed to be part of the chain’s new "Centric" brand which is aimed at tourists who want to experience a city centre community, according to Jason Ballard of Hyatt Hotel Group.
He said The Liberties area was chosen because of its proximity to many of the city's tourist attractions including; St Patrick's Cathedral, Christ Church Cathedral and Guinness Storehouse.
Hopes that new four-star hotel for Dublin's Liberties will help boost the local economy pic.twitter.com/GQ9sMbQdQF
— RTÉ News (@rtenews) May 23, 2018
The hotel will be run by the Hodson Bay Group, an Irish company which carried out a socio-economic study of the area where there was 18.5% unemployment in the 2011 census.
Johnny O'Sullivan of Hodson Bay Group said his company has a tradition of hiring locally and the hotel will provide 280 jobs when it opens next May.
Mr O'Sullivan said: "We are delighted to not only bring employment to the Dublin 8 borough, but we look forward to becoming part of and supporting local businesses, local clubs and societies."
The company's economic assessment states that the 234-bed hotel will contribute over €22 million a year to the economy.
