Luxury hotel operator Ritz-Carlton is set to enter the Irish hotel market for the first time in a deal with property developer Treasury Holdings.
The hotel group will manage a five-star, 203-bedroom hote within the 1,000-acre luxury golf and spa resort on the Powerscourt Estate near Enniskerry, County Wicklow, when it opens in 2006.
The site will include a 30,000sq ft E'Spa spa, four lounge and restaurant areas and meeting space for up to 1,000 people. It is expected to create about 300 local jobs and generate €60m (£41m) per year.
Ritz-Carlton president Simon Cooper said: "Our expansion into Ireland signifies an important strategic move for the company."