The Gresham Hotel group has announced it has sold the Killarney Ryan Hotel and Leisure Centre for €13.86 million.
The hotel, along with the Limerick and Galway Ryans, has been acquired by Choice Hotels in a deal worth €35.75 million.
Gresham - which is the subject of a takeover approach from an unnamed suitor - said the disposal is in line with its policy of focusing on its four-star city centre hotels and of clustering properties in "appropriate locations".
The sale leaves Gresham with seven hotels of which three are in the Republic - the Gresham, the Gresham Royal Marine in Dún Laoghaire, and Gresham Metropole in Cork. The other properties are in London, Brussels, Amsterdam and Hamburg.
Choice is the Republic's largest operator of hotels by number of properties but is second to Jurys Doyle in room numbers.