The hotel will be located on West George Street opposite Queen Street railway station and offer 160 rooms with 590 beds. The opening is scheduled for 2020.
The move follows the signing of an agreement between Meininger Hotels and investor LGIM Real Assets (Legal & General).
It marks the second hotel for the firm in the UK, following the launch of a site at London Hyde Park in 2006.
Meininger, which opened its first property in 1999 in Berlin, currently operates 20 so-called “hybrid hotels” in Europe, with a total of 10,492 beds. Locations include Amsterdam, Brussels, Copenhagen and Milan.
Contracts for new hotels in Berlin, Brussels, Budapest, Dresden, Geneva, Heidelberg, Lyon, Milan, Munich, Paris, Rome, Saint Petersburg, Zurich and now Glasgow have been signed.
Target locations in the UK besides London and Glasgow are said to be Edinburgh, Manchester and Liverpool.
The firm said that the new Glasgow hotel would offer a variety of room types, from classic double rooms through to private multi-bedrooms and single beds within a dorm-style room.
Public areas will be located on the first floor of the building and include a reception, lobby, lounge, breakfast room and bar as well as a guest kitchen and game zone. At basement, ground and mezzanine levels, the scheme will also create some 1,400 square metres of retail space.
Hannes Spanring, chief executive of Meininger Hotels, said: “Great Britain is a very important market for us and as Glasgow is Scotland’s largest city, it’s the perfect location for another Meininger hotel in the UK.
“The Glasgow hotel is an excellent addition to our portfolio, due to its prime location in the heart of the city centre.”
He added: “The focus is still on Europe, but we are also looking for opportunities in North America and South Asia.”
Craig Westmacott, senior fund manager, LGIM Real Assets, said: “We are pleased to be working with Meininger Hotels as they seek to expand their successful brand into the UK. This site is an excellent location for a new hotel and together with the redevelopment of Queen Street station will bring significant improvements to this key area of Glasgow city centre.”
Derek Reid, project director for architectural practice Norr Consultants, which is involved in the design of the hotel, said: “We are immensely proud to have assisted Legal & General and Meininger Hotels in achieving not only this milestone, but also the recent milestone of securing planning permission.
“Our design for the building provides an appropriate response to the hotels strategic location within Glasgow city centre’s conservation area while capturing the exciting dynamic of the Meininger Hotel brand.
“We look forward to continuing our role on the project right through to its completion and opening.”
Meininger is a subsidiary of Holidaybreak, a travel group specialising in educational and activity holidays.