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Developers Tuesday celebrated the groundbreaking for a 400-room hotel in the Seaport that will bear two names.

Intercontinental Real Estate Corp., Harbinger Development, and Suffolk Construction are launching construction on the $176 million project — a 14-story tower on Summer Street in the Raymond L. Flynn Marine Industrial Park that will house both a Hampton Inn and a Homewood Suites hotel.

The developers aiming to capitalize on a growing business market in the outer Seaport, travelers coming and going from Boston's Cruiseport, and events at the nearby Boston Convention and Exhibition Center.

The hotels are scheduled to open in mid-2020.

Tim Logan can be reached at tim.logan@globe.com. Follow him on Twitter at @bytimlogan .