Belfast Days Hotel is to be rebranded as Holiday Inn Belfast City Centre this summer and undergo a £2.5 million (€3.5 million) refurbishment.
According to the Belfast Telegraph, InterContinental Hotels Group, parent company of the Holiday Inn brand, awarded owners Andras Hotels the franchise.
Andras Hotels, which also owns the Holiday Inn hotel near Queen's University, said the hotel will be "utterly transformed" after the £2.5 million investment.
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"We are investing heavily in this city centre property to bring it up to the high standards our guests expect from a Holiday Inn hotel," said Rajesh Rana, director for Andras Hotels.
"At 250 bedrooms, the quality and size of this Holiday Inn hotel, along with its international recognition, will be a great benefit to Visit Belfast when selling Belfast as a conference venue."
Work on the hotel is expected to start in mid-August and be completed by next year.