The 223-bed hotel will belong to a wider development scheme that received outline planning consent in April 2019.
Worth a total of £605m, the Island Quarter scheme will be situated at the former Boots Island site in the city centre.
Robert Ware, chief executive at Conygar, said: “We are delighted to be able to submit our application for this exciting next phase of the Island Quarter.”
Some 240 build to rent apartments are due to be created alongside the establishment that will offer both long and short stay accommodation.
Also included at the site will be a co-working space and an “extensive food and beverage area”.
The development is located adjacent to the pavilion, which gained consent in autumn 2020 and is being built by the private engineering and construction firm, Sir Robert McAlpine.