The application has been submitted to Waterford Council by local businessman Michael Ryan.
The applicant is seeking to knock an existing building and replace it with a 7-storey 40 bedroom hotel.
The proposed development also includes plans for a ground floor deli and café and a restaurant including a bar on the sixth floor with external terrace seating.
This development at Richard A. Walsh Street would also see the construction of a new car park to serve the proposed hotel development with 26 car parking spaces including 2 disabled parking bays.