A spokesperson for the hotel told C&IT that the hotel's damage is confined to its fifth-floor where the blaze started.
Currently, the hotel is taking bookings for stays as well as meetings and events but could not comment on the extent of the damage.
"We are awaiting an assessment later today (18 February) to find out the full extent of the damage," the source added.
The hotel's fifth floor does not feature event facilities. Meanwhile, there are reports that artist Shannon McDonald is fearing the loss of up to 100 of her works of art, which are displayed near where the blaze is said to have started.
Located at the heart of Liverpool's 'Beatles Quarter', the 110-room hotel, which features an event space, is housed in a Grade II listed building, dating back to 1884.