The Clarion Hotel in Cork has been bought by the Dalata Hotel Group for a record breaking price of €35.1 million.

Joint agents Savills and JLL, making the announcement on Tuesday morning, said it was an investment deal only with the current tenants unaffected.

The business will continue to be operated by Choice Hotels Ireland under the Clarion brand.

"With high quality conference and leisure facilities and a prime Cork CBD location, the investment sale of the Clarion Hotel Cork attracted a strong level of both domestic and international buyer interest, resulting in highly competitive bidding and in the end a sale price well above our excess €30m guide price," said Tom Barrett, head of hotels and leisure at Savills.

The Clarion opened in 2005 on the city’s waterfront at Lapps Quay. The four star hotel has 191 rooms and is located in the city’s central business district.