The company, which operates hotels, restaurants and pubs, is planning to convert Lagan House, an office block previously occupied by the Department of Justice into a 'design and technology-led hotel' with restaurant, bar and public work space featuring desktop computer access for residents and non-residents, high speed WiFi and wireless charging points for phones.
Subject to planning approval the hotel is expected to open early next year, creating 100 jobs.
Beannchor director Conall Wolsey said: “This will be a hotel that we see as relevant to the modern day life of our customers; a hotel led by design, technology, efficiency, all in a friendly atmosphere, with the service that Beannchor is renowned for within the hospitality industry."
News of the hotel follows last month's announcement that Beannchor had invested £250k in launching Little Wing Pizzeria in Enniskillen, Co. Fermanagh this summer.
Beannchor finance director James Sinton said: "Hospitality is one of Northern Ireland’s most important industries and, looking to the future, it will be one of the main drivers of sustainable economic growth. Ongoing investment in the sector is crucial and Beannchor is proud to continue to invest in hospitality, with the development of this new hotel in Belfast city centre.
“This latest investment of around £4m follows our major investment of over £20m in the hospitality industry in recent years and will be a major economic boost to the city centre and the wider hospitality sector."
The development of the new property will be overseen by Beannchor’s longstanding project team, including John Busteed Architecture and Design who has completed recent projects such as Sixty6 Belfast and Little Wing, Holywood.