Irish-American businessman John Malone has agreed terms to buy the Limerick Strand Hotel in the city for close to €20m, according to to-day's 'Irish Independent'
Mr Malone, who controls cable supplier UPC through his conglomerate Liberty Global, has already bought a number of hotels in Ireland over the past three years.
The include the Westin Hotel in Dublin for €60m, the Trinity City Hotel in Dublin for €30m and Humewood Castle for €8m.
The four-star Limerick Strand Hotel was developed at a cost of €40m in 2007. It was built on the site of the former Jurys Hotel and is part of a wider project by developer John Lally through his company Lalco.
The business, which caters to a wide range of customers, is believed to have made a profit of about €1.5m last year.
CBRE's Dermot Curtin and Savills' Tom Barrett acted as agents for the property, which was put on the market with a guide of €17m in September.
The hotel features 184 fully air-conditioned bedrooms, several bars and restaurants, extensive conference and banqueting facilities and a leisure club with close to 900 members.