The 93-bedroom Tower hotel in Derry, Londonderry, is to be acquired by Ireland's largest hotel operator, the Dalata Hotel Group, for £4.4m.
The transaction for the hotel, which includes a restaurant, bar and grill and five conference rooms, will complete in October. Last year the hotel achieved a £500,000 profit.
Founded in 2007 by Pat McCann, previously chief executive of Jurys Doyle Hotel Group, Dalata currently operates 39 hotels with almost 6,000 bedrooms. They are predominately located in the Republic of Ireland with one, the Maldron Hotel Belfast in Northern Ireland, as well as the Best Western Plus Maldron Hotel in Cardiff.
Thirteen of the hotels operate under the group's mid-market Maldron brand, which will soon be joined by the Tower hotel.
Pat McCann, chief executive of Dalata Hotel Group, said: "We are delighted to finally have a hotel in Derry, Londonderry. We are excited at the prospect of bringing new business to a city that has seen many positive changes in recent years."