Hotelier Steven McLeod has lodged plans with Falkirk Council to build a 220-bedroom hotel and spa complex in Larbert.
The development at Glenbervie will also feature detached homes and apartments.
Mr McLeod, from Raploch, said if given the go ahead, the plans would generate £15m a year for the local economy and create hundreds of jobs.
Plans for the development also include a grand ballroom with a 1,200 capacity and an auditorium to seat 600 people.
Mr McLeod's company Aurora Hotels currently owns the five-star Glenbervie House Hotel on the site.
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Steven McLeod
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The entrepreneur said 800 people would be employed on a permanent basis at the complex, which would cost about £75million to construct.
A further 500 positions are expected to be created as a result elsewhere in Scotland.
Mr McLeod said: "The entire project will not be like anything on offer in the Falkirk or Central Scotland area.
"The creation of this hotel and the homes will give employment to hundreds of people locally in addition to attracting people and further investment to the Falkirk area."
Planners are next due to consider the application after the New Year.
Source: BBC [Aloe-Spa News]