Snoozebox has been granted permanent planning permission to erect its pop-up hotel each TT.
The Isle of Man Government has approved a planning application for a maximum of 240 hotel bedrooms.
This year the company will build a 160 bedroom unit just behind the Grandstand.
The Department of Economic Development has welcomed the decision saying it helps to alleviate the lack of accommodation for the 40,000 TT visitors.
Head of tourism Angela Byrne says the demand for the venture has been proved:
Watch film about Island mine defuser in Ukraine
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Card game features Island's feathered menaces!
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Airport passenger figures up by one per cent
Ronaldsway airport says the number of passengers using the airport is up almost one per cent this year.
Huge drop in safety incidents at hospital
Safety incidents at Noble's Hospital have fallen by almost a third in just 12 months, according to the Island's health minister.
£14 million owed in student loans, says government
The Department of Education, Sport and Culture says more than £14 million is owed to the government in outstanding student loans.
£250k needed for Onchan street lights
Onchan commissioners say they want to borrow £250,000 to improve street lighting in the village.
Island homebuilder could be wound up
A court hearing next month will decide the fate of one of the Island's biggest developers.
Yellow weather warning issued for Sunday
The Met Office has issued a yellow weather warning for Sunday.
