Dallas' Cityplace Tower north of downtown is getting a makeover that will add a luxury hotel.

The new owners of the 42-story office high-rise on North Central Expressway plan to convert eight floors of the tower into a 5-star InterContinental Hotels Group hotel.

The 233-room hotel addition is the biggest change ever for the 1.35 million-square-foot skyscraper, which was bought last summer by an affiliate of Dallas-based Highland Capital.

The new owners are planning a complete renovation of the 31-year-old tower.

"We see Cityplace as an opportunity to contribute to the evolution of the Uptown area," James Dondero, Highland Capital Management co-founder and president, said in a statement. "Selecting the right hotel operator was a top priority, and we are excited to partner with InterContinental Hotels Group on this project."

Along with guest rooms, the hotel will have an outdoor swimming pool, a fitness center, more than 21,000 square feet of meeting space and a top-floor ballroom and banquet space with views of the nearby downtown Dallas skyline.

Plans call for the hotel to open in 2022.

"We are extremely pleased to be partnering with Highland Capital to bring the InterContinental brand back to Dallas and offer world-renowned luxury service to business and leisure travelers," Joel Eisemann, chief development officer in the Americas for InterContinental Hotels Group, said in a statement. "With its iconic design and sweeping panoramic views of the Dallas skyline, and premiere Uptown neighborhood location, the Cityplace Tower is a natural fit for an InterContinental hotel.

"This project will be a tremendous addition to our luxury portfolio in the Americas."

Highland Capital says that the new hotel is the first phase of its revamp for the landmark Cityplace Tower.

The redo will include a new entrance off North Central Expressway, a renovated lobby, a new lower-level food and retail concourse, and expansion of surface parking areas.

"In all our plans for Cityplace, our focus is on optimizing the functionality of the building, elevating the experiences of all visitors and tenants, and advancing the development of the surrounding area," said Matt McGraner of NexPoint Advisors LP, Highland Capital's investment affiliate that manages the property.

Located at Haskell Avenue and U.S. Highway 75, Cityplace Tower has more than 3,000 underground parking spaces and its own Dallas Area Rapid Transit commuter rail station.

The skyscraper was the first of eight office buildings originally planned for the project. But only the first tower was built. Previous owners have proposed putting apartments, retail, hotels and office space on the land surrounding the high-rise.