Irish hotel group, Dalata is to acquire the four-star Clarion Hotel Sligo for €13.11m (£10.01m) subject to regulatory approval.
The company plans to invest up to €0.75m (£57.32m) in a refurbishment programme to further enhance the hotel, and will rebrand the property as a Clayton Hotel, Sligo.
The hotel generated earnings before interest, tax, depreciation and amortisation of €0.93m (£0.71m) in 2015.
The Clarion has 162 bedrooms, including 89 suites, bar, restaurant, extensive meeting and conference facilities, leisure centre and swimming pool.