The new hotel will include a glass link bridge between two properties
Hard Rock International, the company behind the Hard Rock Cafés, is to open a hotel in the capital.
The Hard Rock Hotel Dublin, in collaboration with Tifco Limited, is set to open in 2020.
It will be the company's first hotel in Ireland - having a café already in Temple Bar.
The new hotel will be on Lord Edward Street in the city centre and be made up of two structures: an existing listed property currently the site of the Parliament Hotel, and the adjacent Fashion House Building.
The Fashion House will be entirely rebuilt and transformed into the new hotel entrance and reception.
While a new glass link bridge will connect to the refurbished Parliament building.
The company says the building will retain the original red brick façade of 1912 - but the interiors of the Parliament building will be completely redesigned.
The hotel will feature 120 guest bedrooms and suites - as well as an all-day dining restaurant and a casual bar serving food and cocktails.
The hotel will also have an array of brand offerings, including complimentary vinyl players and records or a Fender guitar complete with an amp and head phones.
The property will also be home to an in-room yoga experience, Rock Om, which fuses yoga with the beat of music.
Todd Hricko, head of global hotel development for Hard Rock International, said: "Ireland has always been a place close to our hearts, and it only seems right to open a Hard Rock Hotel in Dublin, given the city’s musical roots.
"This is an exciting opportunity to extend our presence in Europe and elevate the one-of-a-kind offering at Hard Rock Hotels to the next level."
Enda O’Meara, CEO of Tifco Ltd, added: "Dublin’s vibrant cultural scene makes it one of the hottest European cities to visit, attracting over 5.5 million overseas visitors annually. Hard Rock Hotel is an iconic, global brand that will be bringing something very different in its own distinctive style to this vibrant part of the capital city."
Hard Rock venues span 75 countries - including 182 cafés, 24 hotels and 11 casinos.