Irish hotel investment company iNua Hospitality has completed the purchase of the four star Kilkenny Hibernian Hotel for €7.25 million.

In a statement, the company said the acquisition was further expanding its hotel asset portfolio after its purchase of the Muckross Park Hotel in Killarney at the beginning of the year and the Radisson BLU hotels in both Cork and Limerick in 2014.

It said the acquisition was “particularly attractive” as the boutique hotel segment was “the fastest growing segment in the industry”.

iNua Hospitalty managing director Noel Creedon said the hotel had been purchased for an “attractive price”.

“This was a unique opportunity to acquire an unrivalled boutique and profitable hotel at an attractive price,” he said. “The purchase is consistent with iNua Hospitality’s strategy in investing in well located, four and five star profitable hotels.

“The Hibernian Hotel is a well established hotel centrally located in the historic heart of one of Ireland’s main tourist destinations. The hotel provides strong year round trade.”