The Dalata Hotel Group says it has received approval from the Competition and Consumer Protection Commission to acquire the Clarion Hotel in Sligo.
It announced last month it was buying the hotel for €13.1m.
Dalata had been managing the venue for nearly three years and will continue to do so.
The 4-star hotel was placed on the market by receiver Aidan Murphy of Crowe Horwath.
Situated on 5.5 acres, facilities include 162 bedrooms, a bar, restaurant, meeting and conference facilities, a leisure centre and swimming pool.
Dalata says it plans to invest up to €750,000 in a refurbishment programme to further enhance the asset, and will rebrand the property as a Clayton Hotel, Sligo.
The hotel generated pre-tax earnings of €930,000 in 2015.
The sale was managed by estate agents Savills.
This acquisition is now expected to close in due course.