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Allen Ewart said: "When tourists come they'll have somewhere to stay - they'll stay that little bit longer and spend more money".
Premier Inn operations manager John Forrest said the chain has been "overwhelmed" by the response of locals to the new hotel.
"We've got off to a flying start, it's really positive for the team who've been made to feel really welcome," he said. Mr Forrest said 50 new jobs had been created as part of the opening.
Lisburn was granted city status as part of the Queen's Golden Jubilee celebrations in March 2002. Newry, which already has a number of hotels, was also made a city that year.