The Enniskillen Hotel is a development by Damiraco Ltd and Invest Northern Ireland has offered Damiraco £99,000 of support towards the project through its Jobs Fund.
The 35-room Enniskillen Hotel is being developed from the former Fort Lodge Hotel in the town and aims to offer four-star accommodation and services.
The company is working towards four-star classification with the Northern Ireland Tourist Board.
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Arlene Foster said: "This new Enniskillen Hotel is a very significant addition to the excellent range of facilities in Fermanagh for tourists. It is also in line with the designation of Fermanagh Lakelands as a key regional destination by my Department and the Northern Ireland Tourist Board.
"The opening of a new hotel in Enniskillen is exceptionally well timed, in that it will offer additional quality accommodation well ahead of the G8 Summit next June. This high profile event will showcase Fermanagh to a global audience and make an important contribution to grow tourism in Northern Ireland to a £1billion industry by 2020.
"In addition to the important services the new Enniskillen Hotel will offer visitors, the development will provide quality employment opportunities and lever additional salaries of around £489,500 for the local economy. It will also offer substantial business opportunities to other local supplies in sectors such as food and drink, tour operators and transport."
