Hotel Florence, a 53-room boutique hotel on West Evans Street, will open to the public on Friday, May 24.
The hotel includes Victor's Bistro restaurant, which will be open for breakfast, lunch and dinner.
The hotel already has 28 rooms booked for Friday night.
The ribbon cutting will be held next Friday, and a private grand opening takes place in June.
Last year, Florence city leaders approved tax credits to help attract the $5.3 million hotel.
Florence City Manager Drew Griffin calls it the first key, private project as part of the redevelopment of downtown Florence.