The Clarion Hotel in Sligo has been sold to the Dalata Hotel Group for €13m.
The four-star hotel was offered for sale on behalf of Receiver, Aiden Murphy of Crowe Horwath and will continue to be operated by current managers and new owners, Dalata.
Established as a hotel in 2005, the hotel includes 162 very spacious bedrooms and suites, conference facilities, restaurants & bar and a health & leisure club.
Aiden Murphy said: "After a number of years of successfully trading the Clarion Hotel Sligo I am delighted with the outcome of the sales process.
"The Clarion has become a leading destination in the North-West for weddings and is perfectly positioned to benefit further from the improving tourism market.
"I would like to thank the management and staff for all of their work and support over the last number of years and wish Dalata the best of luck with this superb property into the future."
Tom Barrett, head of Hotels & Leisure at Savills, said: "The Clarion Hotel Sligo is one of the largest and most profitable hotels in the North-West of Ireland and represented a rare opportunity to acquire a unique landmark property.
"The sale attracted significant investor interest, resulting in competitive bidding and a strong sale price of €13m, or €80,000 per bedroom.
"This sale represents another strong vote of confidence for the green shoots of recovery in west of Ireland tourism."