The 80-bed hotel forms part of a masterplan setting out how an area around Leanachan Forest could be developed.
The blueprint produced by Forest Enterprise Scotland and Highlands and Islands Enterprise (HIE) has been approved by Highland councillors.
Lodges and an area for cabins, yurts, bunkhouse or camping pods could also be created as part of the proposals.
Forest Enterprise Scotland and HIE will now start to work on attracting investors in the project. As much as Â£25m could be invested in the plan, the organisations said.
Leanachan Forest lies between Spean Bridge and Fort William.
Ben Lennon, Forest Enterprise Scotland's district manager for Lochaber, said the masterplan gave a "structured way forward" for development around the forest.
He said: "The area being proposed is fantastic and would be a big draw to all visitors who love dramatic landscapes and outdoor activities."
Scott Dingwall, head of regional development for Lochaber Skye and Wester Ross at HIE, said: "We have been working with Forest Enterprise Scotland to explore the further opportunities that Leanachan Forest offers.
"The approval of the masterplan provides further clarity as to the development potential of the area from a planning perspective, and is a key element in presenting the opportunity to the market."
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