The Dalata Hotel Group has agreed a deal to buy the Pillo Hotel & Spa in Galway city for €10.5m in cash.
The deal is subject to approval from the Competition and Consumer Protection Commission and is expected to close within 30 working days.
The Pillo Hotel Galway is a 4 star hotel near Galway city centre. The hotel has 104 bedrooms, a spa and fitness suite, a restaurant and five meeting rooms.
The deal also includes an underground car park, 400 square metres of fully let office space and a vacant retail unit.
The hotel has been managed by Dalata since November 2011 under a management contract.
"We are delighted that we have acquired this excellent hotel in such a great location. Galway is a thriving city with both a strong tourist and corporate market," commented Datala's chief executive Pat McCann.
"It is good news for all the staff in Pillo as we intend to further develop the hotel in the coming years," he added.
