The grade II listed building underwent a £4.5 million redevelopment last year, which has transformed it into a high quality conference and events venue.
Home to the university's conferencing department, Well Met, the space now offers a range of contemporary high-end conferencing suites, with capacities from as little 10 up to as much as 300.
The building has already amassed a number of awards for its high-spec facilities and has helped Well Met achieve record sales figures.
Clare Vidler, Conferencing Manager at Well Met, said: “The £4.5 million refurbishment of Cloth Hall Court has transformed the facilities we are able to offer.
“Visitors and delegates have been incredibly positive about the facilities and the design, and I'm delighted that this is being acknowledged through this award nomination.
"Our first year since the refurbishment has been so successful that it has allowed us to more than double the team from six to 13.”
The project, which completed in June 2017, was designed by award-winning architects Sheppard Robson.
David Baldwin, associate at ID:SR, the interior design arm of Sheppard Robson, said: “It is great that Cloth Hall Court is being recognised for this award.
"Cloth Hall Court was an amazing project to work on - bringing back to life a Grade II listed building in the centre of Leeds and securing its future within the hospitality sector has been extremely rewarding.
“The building, situated on a site which was once a trading centre for the textile industry between the 18th - 19th century, underwent significant renovation in the mid- 1990s, demolishing all the internal walls and finishes, retaining only the external 1900s façade to Quebec Street.
“This provided us with the opportunity to remodel and refresh the internal floor plates and to design a spacious and creative interior environment for hospitality purposes.
“Modern, white-washed walls coupled with innovative textures and natural finishes lighten the internal spaces, whilst accents of vibrant colours give the feel of a contemporary environment. The large original windows offset contemporary elements becoming statement features in themselves and creating light filled open spaces.”