Whitestone Land will start work on a 66-room Travelodge hotel at Stonedale Retail Park in Liverpool in two months.
The £4m hotel will open on the East Lancashire Road later this year, with accommodation above 5,000 sq ft of ground floor retail space.
Nick Howard, director at Whitestone Land, said: "Travelodge has bought the space from us for an undisclosed sum after we purchased the building from a pub company. We're still talking to a number of operators for retail opportunities and these are based across the country."
Stonedale Retail Park has McDonald's, KFC, Showcase Cinema and Frankie and Benny's amongst its occupiers.
Travelodge has purchased 12 new sites for £77m across the UK, meaning 1,443 bedrooms will be added to its portfolio.
Whitestone Land gained planning consent for the hotel in January this year.