The refurb will also see a reduction in size of The Library Bar.
Previously reported in July that it may be happening, it was confirmed on Thursday evening that The Globe on Dame Street and its accompanying nightclub Rí-Rá will be closing down as part of the refurbishment of the Central Hotel.
Dublin City Council have granted permission for the major expansion of the South Great George's Street hotel, which will see it turning into a five-story hotel with 125 bedrooms and an open rooftop.
As part of the overhaul, Rí-Rá is set to be turned into a 'speak-easy' bar, and The Globe will be transformed into a retail outlet.
Green Party Counciller Claire Byrne took to social media to voice objections, stating "Utterly crushing decision by DCC here. I'm fine (ish) with the hotel bit but to turn The Globe into a retail unit is just short of criminal. Nothing is sacred."
Additionally, Labor Senator Ivana Bacik stated that a petition to stop the closure of the bars had amassed over 1,000 signatures in a week, and told The Irish Times that "I am not opposed to the development of hotels in principle, but I have grave concerns about the closure of cultural and recreational institutions to facilitate these developments."