Developer David Harper confirmed on Wednesday the change from the Accor Hotel Group to Mantra with work to finally start on the $30 million project before the end of the year and be completed in 2018.

“Each operator has different requirements and we've gone through an internal re-design process,” he said.

“But it's all exciting and Mantra is ready to go.”

The property will be known as Mantra Hotel Albury once completed with about 200 construction jobs to be initially created.

The latest deal between Volt Lane Pty Ltd was struck this week.

It was previously going to be known as Novotel Albury and be managed by Accor.

Albury Council approved a modified development application for changes to the hotel layout and a re-positioning of the Kiewa Street multi-deck car park, also to be built by Volt Lane Pty Ltd.

Albury mayor Henk van de Ven declined to comment on the change from Accor to Mantra due to “commercial in confidence” reasons.

The hotel would also feature a restaurant and bar, executive lounge, gymnasium, large conference and meetings facilities and basement car parking.

Mantra Group chief executive Bob East said his group was thrilled to be coming to Albury.

“Strategically located at the midpoint between Sydney and Melbourne on the Hume Highway, Albury is a key regional commercial and tourism hub with established and varied accommodation drivers,” he said.

“It is well supported by a large regional airport and an impressive major events calendar which attracts significant visitation to the city.

“We’re confident the property will provide a market-leading hotel offering, well positioned to become the region’s premier corporate, meetings and leisure hotel.

“The hotel will complement our extensive portfolio of regional, coastal and CBD properties across Australia, New Zealand, Indonesia and Hawaii.”

The Volt Lane precinct, which includes the ATO offices and multi-deck car park, began its redevelopment six years ago.

The ATO building was sold to Korean company FG Asset Management almost a year ago for $64.8 million, after selling three years earlier for more than $50 million.