The parent company of the new Premier Inn in Douglas, Whitbread, believes it will do well due to the Island's 'strong business and leisure economy'.
It was announced this week building work at the hotel based on Market Street had been finished ahead of schedule and will open to customers on June 24.
Island developer Dandara has now handed over the site to Whitbread, with the building boasting 85 bedrooms across six storeys along with a Thyme restaurant.
Planning permission to build it was granted in September 2017, and Whitbread has worked with University College IOM and IOM Job Centre to recruit 35 members of staff to be trained in due course.
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