The green light has been given to construct a new 40-bed hotel on Davitt's Quay in Dungarvan.
The application, lodged by Michael Ryan in October for the seven-storey building on Richard A Walsh Street, was recently approved by the Council.
The application included plans for a ground floor deli and café, and a restaurant and bar on the 6th floor.
The news is being welcomed locally and speaking to WLR News, Dungarvan Councillor Damien Geoghegan says it will be a boost to the town.
"One of the biggest challenges we've had over the past number of years in Dungarvan is the lack of tourist accommodation," he said.
He acknowledged that there are good hotels in Dungarvan, but they need more.
Commending the developer Michael Ryan, Councillor Geoghegan used his other projects, The Old Bank Building and The Railway Cottage, as examples of his work.
"He's a developer with a first-class reputation," he said.
Parking for the new hotel will be provided across the road on Richard A Walsh Street.
It will be overlooking the river, showcasing the "fantastic views" of Dungarvan.
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