Manchester Airport Developments Limited hopes to submit planning before the end of this year for an upmarket hotel with direct terminal access.
John Atkins, managing director of MADL, said talks were progressing with a hotel operator about the specification of the hotel ahead of plans being submitted.
The hotel will have between 200 and 300 bedrooms and will allow pedestrian access onto the skywalk linking into the terminals.
Atkins said: "The hotel market is trading well at the airport, based on the growth of the airport and South Manchester."
The airport recently received planning consent for a 150-room extension to the Radisson SAS, which is also terminal-linked.