Kilkenny River Court Hotel has been sold for more than €9m. to Wexford-based hoteliers William Neville & Company.
The hotel went on the market last October for sale by private treaty. The property had expected to fetch in the region of €7.5m.
The hotel was a sister of the nearby Lyrath Estate Hotel under former owner Xavier McAuliffe. Kieran Wallace of KPMG was appointed as receiver over the business in July 2012.
The hotel is seen as having a "superb trading location" in the centre of the city. It was built from new and opened for business in June 1999 and has since established itself as "one of the most successful and profitable hotel operations in Ireland", said agents CBRE.
The Neville Group also owns the Royal Marine in Dun Laoghaire and the Riverside Hotel in Enniscorthy.