Cairn Group has been named as the preferred operator of a 150-bedroom hotel at the heart of the council's £135m regeneration project called Swansea Central Phase One.
The hotel will include a restaurant, bar and gym, under a brand from one of the major global groups such as Hilton, IHG or Accor.
Making up Phase 1 of the scheme (pictured), the new hotel will be situated next to a new 3,500-capacity indoor arena, which will be operated by theatre company ATG, along with restaurant and retail units.
There will also be over 30 residential homes, commercial units, digital square, pedestrian bridge, car parking and parkland.
Phase 2 will include a mix of retail and leisure alongside a business school, linking the city centre to the arena and waterfront.
Neeraj Handa, director of the Cairn Group, commented, 'The opportunity in Swansea is huge. The new arena alone is set to attract over 230,000 visitors a year to the city, from business visitors using the new conferencing facilities to holiday-makers taking in a show.
'The major improvements across the city, teamed with the remarkable local beaches and attractions, will ensure Swansea becomes an unrivalled destination to visit in the UK, and the demand for quality hotel rooms will boost the current supply.”