Police Scotland has confirmed a male suspect has been shot dead following the incident at the Park Inn hotel in West George Street on Friday afternoon (26 June).
Armed police remain at the scene.
The force confirmed shortly before 3.30pm six people were being treated for injuries, including the officer, who is in a critical but stable condition.
Assistant Chief Constable Steve Johnson said: "The individual who was shot by armed police has died.
"Six other people are in hospital for treatment to their injuries including a police officer, who is in a critical but stable condition.
"We are continuing to deal with the incident on West George Street, Glasgow, and would ask people to avoid the area."
Several travel businesses are based in Glasgow city centre, including Scottish independent agency chain Barrhead Travel, and tour operator If Only.
A Barrhead Travel spokesperson told TTG none of its staff had been affected, with all its stores still closed.
Earlier, police said: "Emergency services are currently dealing with an incident on West George Street in Glasgow.
"The street is currently closed off and the public are asked to avoid the area at present. The situation is contained at this time and there is no danger to the general public."
ACC Johnson added: "Armed police officers attended the incident and I can confirm a male suspect was shot by an armed officer.
"I would like to reassure the public that at this time, we are not looking for anyone else in relation to this incident.
"I can also confirm a police officer was injured while dealing with the incident and that officer is receiving treatment in hospital."
