Hotel Grand Chancellor Launceston has a three-year lease for the Cimitiere St building, with an option for a further three years, and has begun a marketing blitz.

Hotel general manager Kym Fell said Launceston needed another venue for large conventions and the Launceston City Council-owned building was the place.

Mr Fell said the hotel had signed a contract to manage the building and planned to book more than 100 events a year for the building, up from a much lower number in the past.

He said the hall was just a short walk from the Cameron St hotel, which lacked a large hall.

And he said Albert Hall was a unique structure, dating from 1891.

The hall could seat up to 1260 guests theatre-style, 640 guests banquet-style and give capacity for 1900 delegates when combined with the hotel's existing venues.

"Our main focus taking on Albert Hall is to tender for larger events into the region," Mr Fell said.

"We are targeting residential conferences, with people that are looking to stay for three to four nights.

"In winter there is always a shortage of visitors to the region, so our solution is to get more conferences in the region.

"There is a spin-off for our hotel but also for everyone else."

The hall has two large rooms, the Great Hall and a cafe.

Mr Fell said the cafe had been renamed City Park Cafe and was now open to the public daily except for Mondays and Tuesdays.

"There is plenty of potential (at Albert Hall) and Northern Tasmania can do larger events," he said.

"We can compete against Hobart but in the past people have not realised how accessible the region is.

"With many flights a week, we can target Melbourne and Sydney."