The Grosvenor House Hotel, W1, has been taken over by the Reuben brothers, who have secured a £350m loan against the asset.
The brothers bought two loans against the hotel and a loan of $465.8m (£305.7m) for The Plaza Hotel and The Dream Downtown, New York.
The 429-bedroom Grosvenor House Hotel was put on the market in March through JLL after its owner Sahara Grosvenor House Hospitality entered administration.
The billionaire brothers have given the hotel owners a four-month extension on repayment of the loans.
