Irving, who previously starred in basketball comedy Uncle Drew, is collaborating with Imagine Entertainment on the untitled project based on an upcoming Players' Tribune article about the hotel.
The Skirvin Hotel has a reputation among NBA players for being haunted. NBA teams frequent the hotel with some players refusing to stay at the location.
Imagine Entertainment chairman Brian Grazer is producing alongside Bobby Cohen.
"Having had my own interesting experiences at the Skirvin Hotel, I connected with this idea immediately," Irving said in a statement. "To work with Brian Grazer is a dream come true, and I'm excited to bring this project to life with the Imagine Entertainment team."
Cohen, during an interview with ESPN, said the film will be both scary and witty.
"There are different ways to tell a story,'' Cohen said. "You could do a comedy version of this like Ghostbusters. But what interested me more is what I refer to as the roller coaster horror movies, like Poltergeist, where it's scary but it is also rich with wit and satire. So, we won't be doing a straight-up comedy, but it won't be hardcore horror like The Conjuring.