Gresham Hotel Group is to dispose of its three Ryan-branded hotels for €35.75 million.
The Killarney, Limerick and Galway Ryan Hotels have been sold in separate transactions for a total of €35.75 million.
The sales were expected as part of Gresham's new strategy of focusing on four-star city centre hotels and to cluster its properties in appropriate locations.
The Killarney Ryan fetched the highest price at €13.8 million, the Limerick Ryan went for €11 million and Galway was sold for €10.89 million.
Each of the respective purchasers has entered into an agreement with Choice Hotels Ireland, the parent company of The Quality Hotel Group, which will manage the properties.
It is intended that the funds raised from the disposals will be applied to reduce debt.