Galway Bay fm newsroom - The Westwood Hotel in the city is set to be transformed into high-end student accommodation for around 400 students.
The well known hotel has been sold but will continue to operate as a hotel until early 2018.
A statement from the hotel says all weddings, bookings and functions are guaranteed until January.
The new owner is Ziggurat Student Investment Fund Unit Trust, who have a track record of providing high-quality purpose-built student accommodation.
The trust already provides students residences in Dublin and Cork.
It's expected that a planning application will be submitted in the coming months for the new student accommodation.
Chief investment officer Matthew McAdden says the trust is looking forward to working with NUI Galway, Galway City Council and local residents to deliver an attractive scheme for the property.
Meanwhile, a plan is in place for an 'orderly and planned transition' to the new owners which will take place in early 2018.
