The sale of the well-known Golf Hotel in Ballybunion - which has been closed for almost six years - has been completed after months of speculation.
The new owner is believed to be an experienced hotelier, who intends to conduct an extensive renovation before re-opening.
Previously known as The Ambassador Hotel and built in the late 1960s, the Golf Hotel went for public auction on two occasions last year, but the reserve price was not met.
In October, it was sold by auctioneer Gary O'Driscoll for a price believed to be in the region of €650,000.
Mr O'Driscoll told Radio Kerry News that the documents of sale were signed in recent days.
He says he's not in a position to disclose the identity of the new owner, but confirmed that the immediate priority was to repair the roof of the building, which was extensively damaged during Storm Barra.
The property comprises 98 bedrooms, two bars, a function room, two retail units, a nightclub, a takeaway and a gym.
It's understood the new owner plans to re-open the hotel as a mixture of regular hotel rooms and high-end apartments.
Gary O'Driscoll says there is no definite date for a re-opening, as a considerable amount of renovation work needs to be done.