Pillo Hotels has been appointed to manage the former Marriott Hotel in Ashbourne, Co Meath.
Pillo is an hotel operating company led by former senior executives of Jurys Doyle Group and backed by Ion Equity.
The company will manage the hotel on behalf of KPMG, who were appointed as receivers of the hotel by the National Asset Management Agency in March 2011.
Pillo said it was optimistic about the future for the hotel.
Speaking on behalf of the Pillo team, Conal O'Neill said that the company planned to rebrand the hotel as the Pillo Hotel Ashbourne with immediate effect.
''The hotel will continue to operate as a 4 star property and we plan to grow the business through a variety of initiatives in the coming months," he said.
Pillo Hotels is backed by private equity firm, Ion Equity. Ion Equity has major investments in a number of businesses in Ireland and overseas including Topaz Energy, SouthWestern, Ocean Media and USIT.
Pillo Hotels were appointed to manage the Marriott Courtyard Hotel in Galway in 2010. It has since been rebranded Pillo Hotel Galway and the company said it is ''trading very strongly despite the current challenging environment''.
The company is also exploring a number of opportunities to take over the management of other hotels in Ireland and the UK.
