A spokeswoman for City One said that Fletcher is in talks with a number of potential investors, including "a five-star hotel group".
The plans follow last year's opening of the Light complex in the city, another project involving restaurants and bars; and in February Radisson SAS opened a 147-bedroom hotel.
Nic Carey, development consultant at architects Carey Nieman, said: "We could not have contemplated plans on this scale if Leeds were not so buoyant. The local market is struggling to find venues big enough for annual dinners, award ceremonies and trade fairs, and the untapped potential to bring international organisations and events to the city is vast. A decision from the council is expected early next year.
