Riverfront Property Limited is seeking permission from Glasgow City Council to replace the existing 19th century warehouse on Oswald Street with a new hotel building.
The 11-storey hotel would be in the footprint of the current building
The current five-storey, unlisted building is within the Glasgow Central Conservation Area and was put on the Buildings at Risk register in 2013.
It was built in 1844 and altered in 1902, with another storey added, and was used as a warehouse until 1988, when it was turned into a health club.
It has been out of use since 2001 and is now in a poor condition.
Previous planning permission was granted in 2008 for the building to be extended and used as a hotel, however, the work was never carried out.