Porter Drive was named after Daniel G Porter, a former town planner for the Havelock North Borough Council.
"This is a very high-profile development in the heart of Havelock North, so there's been quite a lot of talk about what it would be called," Mr Mackersey said.
"We decided upon Porters because of its historical connections with the village.
"The timing was right to announce the name and reveal the branding now, as we're excited to be a major partner in the Hawke's Bay Arts Festival," he said.
The Harcourts Hawke's Bay Arts Festival was launched last night at the Hastings Community Art Centre.
Festival director Pitsch Leiser said the leap of faith by Lowmac Properties to support the festival, without the hotel being open for business, was refreshing and a great vote of confidence.
"The Lowe and Mackersey families see the value and importance of a Hawke's Bay arts festival and it's great that we can also be part of promoting an exciting five-star boutique hotel, that will be a major feature of Havelock North and Hawke's Bay," Mr Leiser said.
The hotel will have 42 rooms and incorporate a restaurant, house bar, meeting and conference-room facilities.
Mr Mackersey said the $25 million hotel, retail and commercial office complex was progressing to plan and set to open in summer 2016.