Bruntwood and the University of Manchester have signed a deal to build a new hotel and an executive education centre for Manchester Business School on the Oxford Road campus.
Bruntwood will develop the 326-room hotel in a 19-storey building designed by BDP and Leach Rhodes Walker under an investment deal with M&L Hospitality Group.
Prof Fiona Devine, head of Manchester Business School, said: "The hotel will provide an excellent base for all our visitors from across the globe to explore Manchester and the North West, with easy access to MBS and the university.
"The new executive education centre will enable us to grow our international client base of some of the world's leading businesses and public sector organisations."
The development is part of the university's £1bn campus masterplan, which will create some of the most modern campus facilities in the world along the southern gateway to the city, known as the Manchester Corridor.
Chris Roberts, development director of Bruntwood, said: "The hotel and adjoining executive education centre will be a landmark development for the corridor and a great addition to the amenities of the city's tourism and business offer."
Neil Maxwell, chief executive of M&L Hospitality, added: "We are always exploring investment opportunities that have the potential to deliver stable and attractive returns. This hotel will be a valuable campus amenity for MBS, the university and other nearby facilities, such as the Central Manchester University Hospitals, the Manchester Science Park and the many cultural assets and arts venues along the Corridor."