Fota Island Resort was this week handed over to its new owners, the Kang Family Worldwide Group.
Originally from Baoding, Hebei Province in China, the wealthy Kang family bought the 500-acre resort from NAMA for €20 million.
The resort, which is located in Cork Harbour, was originally built by Irish developer John Flemming at a cost of over €90 million.
It is the family's first investment in Europe, but they also operate two five-star hotels in Beijing and Shanghai.
The family say Fota Island Resort will trade as normal with all current and future commitments, from weddings to accommodation and corporate bookings, being honoured.
Developments planned for the near future include a refurbishment, completion of lodges, a restaurant, increasing leisure facilities, a seasonal Christmas market and Santa experience.
Family spokesman Xui Kang said: "We are looking forward to developing the great work that has been done here to date and maximising Fota Island Resort's potential in the future."