The Bhatia family is in advanced talks to buy the DoubleTree by Hilton Hotel near the Tower of London, EC3, for more than £300m.
Blackstone is selling the asset, which both London & Regional and Host Hotels have also been competing to purchase. The price paid for the 582-bedroom hotel would equate to more than £515,000 per bedroom.
The sale is one of the largest in the London hotel market this year and would mark a key disposal by Blackstone from the portfolio of Mint hotels it bought for £600m in 2011.
From 12 August: Blackstone mints last hotel sale in SW1 >>
The portfolio of eight hotels was bought from Lloyds Banking Group after Mint breached a loan covenant and the assets were subsequently given various Hilton brands.
The Bhatia family, headed by matriarch Gulshan Bhatia, is expanding its already well-established London hotel portfolio which includes the Hilton London Paddington, W2, and the Waldorf Hilton, Aldwych, WC2.
Eastdil Secured is acting for Blackstone.
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