A liquor on-licence application is currently with the council.
Faull, who has an office in Auckland and a group head office in Hong Kong, while maintaining farming interests in Taranaki, said: "I am committed to supporting the growth of tourism and development in my country and this is a tremendous step forward in this direction."
"This spectacular upscale hotel is the perfect property to introduce our upscale boutique brand and I strongly believe it is an excellent addition to not just our portfolio but it also stands true to the art-deco destination. I am looking forward to delivering unforgettable and immersive experiences to our guests while having our top priority as health, safety and wellbeing of our guests, team members and business associates."
As well as its "stylish" guest rooms and suites, the hotel will have a bar and lounge area, the Saffron Social Kitchen restaurant – "Indian cuisine with a modern twist" - a fitness centre and on-site parking.
It will also be pet-friendly, catering to the needs of the travelling animal-lover.
Shipping uncertainty within the global pandemic has caused some delays and the opening date is still to be determined, but bookings are being taken and the company.