The owner of the Seven Peaks Excelsior Hotel announced plans Thursday to build a 12-story, 150-room addition on the back side of the hotel. The expansion will face Center Street, said hotel owner Victor Borcherds. It will be built on the site of Provo City's former economic development office building, 152 W. Center Street. Provo has agreed to sell the building to Borcherds. Borcherds also is trying to buy the building currently occupied by the Panda Cafe, 138 W. Center Street. Design plans for the project are finished, Borcherds said. The addition will have retail and restaurant space on the first floor with rooms above. There will be a through-the-block access to the hotel's parking structure, which is located on 100 West. The hotel has been at 100 percent capacity for several months and needs more rooms, Golightly said. "The hotel is a huge success," Borcherds said during a Chamber of Commerce conference at Sundance.