The Maldron Hotel in Oranmore in Galway has been sold to a private investor.

The price has not been disclosed, but it is understood that the guide of €13m was achieved.

Dalata Hotel Group will continue to lease and operate the property.

"This transaction highlights the continued confidence in the Irish hospitality market, particularly for well-established and well-located assets such as the Maldron Hotel," said Tom Barrett, Director of Hotels & Leisure at Savills Ireland, which handled the sale.

The hotel has 113 rooms, as well as a bar and restaurant, leisure centre and meeting rooms.

Located just off the N18, it is 10 minutes from Galway city, but also used as base for tourists visiting county Clare.

Last month Dalata announced its revenues exceeded €0.5 billion for the first time last year.

The hotel group's profit before tax increased to €109.7m from a loss of €11.4m in 2021 and profit before tax of €89.7m in 2019.

Profits after tax came to €96.7m, up 24% on 2019.

It also opened six new hotels during the period, including its first hotel in continental Europe - the Clayton Hotel Dusseldorf.