Galway's Westwood Hotel, located close to NUI Galway, has been sold to a company specialising in student accommodation for an undisclosed sum.
The four star hotel will continue to operate as a hotel until early 2018, at which point it will be converted into high end accommodation for around 400 students.
The hotel had been owned by hotelier and publican Terry Sweeney, who has sold the property to a UK based investment fund called Ziggurat Student Investment Fund Unit Trust. Previously, the building was known as the Westwood Restaurant before being converted into a hotel in the late 90s.
A statement from the new owners said that all previously booked weddings, bookings and functions are guaranteed. Around 70 staff are currently employed at the hotel. The company already provides student accommodation in Dublin and Cork.
Planning application is expected to be submitted in the coming months for the conversion.