"Swift action" is required to complete the Trump Hotel due to house seven International Federations in Rio de Janeiro during this year's Olympic Games.
The 13-story building, located in the Barra de Tijuca region in which the main Olympic Park and the accommodation for most officials is located, is due to be finished before delegates begin to arrive ahead of the Games.
But concerns are rising that the luxury hotel, set to feature an infinity pool made of glass suspended above a nightclub with capacity for 600 people, will not now be ready in time.
Fears were raised during last week's Association of Summer Olympic International Federations (ASOIF) General Assembly in Lausanne.
“That is the one we fear,” admitted Rio 2016 executive director of sport and Paralympic integration Agberto Guimarães said.
“Whilst substantial progress has been made in venue construction during the last months, lots of details ensuring operational readiness will still need to be addressed during the remaining months,” ASOIF told Bloomberg.
“We feel this is solvable, but will require swift decisions and action.”
Trump Hotels, named after United States Presidential contender Donald Trump, claim their developers have provided assurances that it will be ready in time.
Accommodation has been a major concern ahead of the Games due to the unprecedented pressure on the Brazilian city.
Two Holiday Inns expected to be ready in time for the Opening Ceremony have already been delayed until 2017.
Travel agent Opodo have estimated that the average Games-time hotel price will be three-times the normal rate.
Special agreements have been signed with Airbnb in a bid to overcome the deficit.
This will supplement the 40,000 rooms hoped to be available by August, more than double the number when the city was awarded the Games in 2009.
The Windsor Marapendi Hotel, also in Barra da Tijuca, has opened in recent weeks and is expected to be the International Olympic Committee Family Hotel during the Games.