Cork's Castlemartyr Resort has been bought by the owners of the 5-star Sheen Falls Lodge in Kenmare, Co Kerry.
Singapore-based Dr Stanley Quek and Peng Loh have significant global interests in the hospitality sector and personal connections to Ireland.
While the price of the deal was not disclosed, it is understood it came to about €20m.
Castlemartyr Resort is the third Irish hotel to join the group that includes the Sheen Falls Lodge in Kenmare and Trinity Townhouse in Dublin city centre.
Castlemartyr Resort employs 250 full and part-time staff in high season and is one of the largest employer in the East Cork region.
The hotel opened in 2007 as a luxury 109-bedroom property and it is set on 220 acres of formal gardens, pastures and woodlands.
Included in the deal are 38 self-catering cottages and lodges on the grounds, which are a mix of two and three-bedroom properties and which are popular with families and golfers.
The new owners are planning a major investment programme to refurbish the common areas, bedrooms and grounds starting with the hotel's Manor House.
Dr Stanley Quek said he was very excited to be the new owner of Castlemartyr Resort.
"This is a very significant purchase for us and demonstrates our commitment and confidence in the Irish hospitality market. It is a beautiful country property, rich in history, and is an important employer and amenity in the local area," he added.
Peng Loh said that over the past five years, the two partners had actively sought opportunities to add Irish hotels to their portfolio.
"Castlemartyr is a wonderful addition. It is an easily accessible hotel for the domestic and international market, with much charm and many attractions. We look forward to ensuring the continued success of the hotel," he added.
