He said: “It is a real honour to be the successful purchaser of this beautiful property.
“The Slieve Russell will continue to be run by a local team who are doing an excellent job.
“Slieve Russell employs hundreds of people locally, both full and part time, and is an important part of the community.”
Mr Brady’s company is understood to have paid around €30m (£25m) for the property.
Mr Quinn had attempted to buy back the hotel, but his bid was rejected at an early stage
Mr Quinn made his fortune in quarrying and manufacturing before later investing some of it in hospitality businesses.
He lost his businesses and was declared personally bankrupt after a disastrous investment in Anglo Irish Bank.
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