As well as converting the Guildhall, the scheme also involves adding a five-storey extension to the rear of the building, along with a 13-storey tower. A glazed link would also be created, connecting the Guildhall and Fire Station House.
Ascena was named as the operator of the proposed hotel towards the end of last year.
The firm already owns and runs a number of luxury hotel and restaurant facilities in Birmingham and the South West, one of which is the Birmingham Michelin-starred restaurant Opheem.
John Wilby, Ascena’s project lead for the new Nottingham hotel, said: “After it has sat vacant for the best part of a decade, we’re pleased to have hit this significant milestone in breathing new life into the Guildhall.
“The development will not only bring jobs to the area but will also help elevate the city as a tourist destination.”
Jack Turton, director of Ascena, said: “We have been working closely with our heritage consultant Turley and Historic England to ensure that this iconic building is brought back to its former glory.
“As well as this, an existing latter-day extension to the northern elevation of the Guildhall will be demolished and rebuilt.
“We’re thrilled to have been working in close collaboration with the city council to help bring its former home to life and now that planning consent has been granted we hope to begin work on site in the coming months.”
Councillor David Mellen, leader of Nottingham City Council, said: “I’m very pleased that these exciting proposals to turn Nottingham’s Guildhall into a high-quality hotel have been given the go-ahead.
“It’s something we have been keen to happen for a long time and our planning officers have worked with the developers to help them shape a development which respects the history of this grand old building and bring it back into use.
“The mixture of uses on the rest of the site will help to reinvigorate this part of the city centre at a time when new developments and the jobs they bring are very welcome indeed.
“This investment in the city shows ongoing confidence in Nottingham and will complement other schemes that are transforming the city centre into a new destination for residents, businesses and visitors.”
