The Slieve Russel hotel in Co Cavan has been sold to Brady Hotels Ireland, agents CBRE have confirmed.
The property has been on the market since April with a price tag of around €35m.
It was sold by the liquidators of the Irish Bank Resolution Corporation, Kieran Wallace and Eamonn Richardson, of Interpath Advisory.
The hotel has 224 bedrooms, as well as banqueting and leisure facilities, and is situated on 300 acres of land, which includes a PGA Championship golf course, a 9-hole par 3 course and driving range.
First opened in 1990, the property has had around €7.5m invested in it since 2019.
Situated in Ballyconnell, it was once owned by businessman Sean Quinn.
Brady Hotels is owned by Australian based developer, Tony Brady, who is originally from Cavan.
"It is a real honour to be the successful purchaser of this beautiful property," said Mr Brady.
"It has an outstanding golf course and a lovely hotel. The golf course has got PGA National status, the only such golf course in Ireland and one of only a limited number of PGA courses in the world."
He added that the hotel will continue to be run by a local team.
The hotel employs hundreds of people locally.
"We had considerable interest from both domestic and international investors and while the ultimate buyer is an Australian company, they have extremely strong Cavan connections," said Paul Collins of CBRE Hotels, which conducted the sale.
