FBD Hotels and Resorts has announced a deal to sell the Tower Hotel Waterford to Neville Hotels.
FBD said the proceeds of the deal will be re-invested into its existing portfolio of four hotels and resorts in Ireland and Spain.
These include the Castleknock Hotel in Dublin; Faithlegg House Hotel and Golf Resort in Waterford; La Cala Resort in Malaga, Spain and Sunset Beach Club, also in Malaga.
The company said that the deal will have no impact on the Tower Hotel's existing bookings or events. The hotel has a workforce of 120 full-time staff, all of whom are unaffected by the sale.
Wexford-based Neville Hotels already own the Royal Marine in Dun Laoghaire and the Kilkenny River Court Hotel.
The deal is expected to be finalised within the next 30 days.
