The capital city is set to get its very first Hilton hotel.

The renovated T&G building will host the seven-storey, 108-room hotel, with the conversion expected to be completed later this year.

The iconic Lambton Quay building is also known as the old Harcourts building.

Hilton has been eyeing a move into the region for a while.

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Vice-president for Hilton development Australasia Robert Scullin said the Wellington location was just the beginning.

"We are committed to growing Hilton's presence in New Zealand, and the signing of DoubleTree by Hilton Wellignton is integral to our regional portfolio expansions for the country."

Hilton's DoubleTree brand has 475 other hotels around the world.

The Wellington version will include a restaurant, bar, boardroom and gym.

DoubleTree by Hilton senior vice-president and global head Dianna Vaughan said the hotel was expected to appeal to both business and leisure travellers.

"[It has] close proximity to the central business district and walking distance to the celebrated Te Papa museum, the iconic cable car, numerous unique shops, and vibrant cafes."

Rumous have circulated for several years about a Hilton hotel in Wellington.

There were whispers that the chain would move to a waterfront property in 2008.

There was also a proposed 165-bed hotel in 2014, which wasn't successful in getting off the ground.