An iconic site in the South East is set to be redeveloped as a 5-star hotel.
The Ard Rí in Ferrybank overlooks Waterford City.
The buyer is a Kilkenny native and owner of Waterford Castle, Seamus Walsh
Speaking on the development, Cllr John Cummins said, "it's more fantastic news on the back of the North Quays investment.
"The Ard Rí hotel, which is such a dominating iconic building overlooking the City, has been sold to Seamus Walsh, who is the owner of Waterford Castle. He intends to develop it as a 5 star hotel.
"It's very positive news for Waterford and the entire region, and we're very much looking forward to seeing work commence on the site."