FBD Hotels & Resorts have agreed a deal to buy Killashee Hotel, located in Co, Kildare, for €25m from Tetrarch Capital.
Today's deal will see the group add a sixth hotel to its portfolio of luxury four-star hotels and resorts.
Established in the early 2000s, Killashee Hotel is a 141-bedroom hotel with conference, wedding, spa and leisure facilities. It is between Naas and Kilcullen in Co Kildare.
As well as Killashee Hotel, FBD Hotels & Resorts owns the Faithlegg Hotel in Waterford, the Heritage Hotel and Spa in Laois and Castleknock Hotel in Dublin.
The group's portfolio also includes two four-star resorts in Spain, Sunset Beach Club and La Cala Resort on the Costa Del Sol.
It also has an extensive landbank in La Cala in Spain, which it is developing partly via joint ventures with international construction company Taylor Wimpey.
It said the acquisition of Killashee will bring the number of hotel rooms in the group's portfolio to 1,078.
The CEO of FBD Hotels & Resorts, David Kelly, said that Killashee Hotel is a successful business with a longstanding reputation of excellence that aligns strongly with the ambitions and values of FBD Hotels and Resorts.
"As such, we are confident that this hotel is a strong strategic fit for our group, offering solid fundamentals in terms of team, location, brand, and historical performance," Mr Kelly said.
He also said the company's overall performance continues to be positive.
"As a sector, the past two years have presented unique challenges but underpinned by a strong balance sheet, a committed team, and forward-focussed ownership, we used the period well and are ready for the next phase of growth right across our portfolio," he added.
