The Bhatia family has paid Blackstone more than £300m for the DoubleTree by Hilton, EC3, near the Tower of London.
The purchaser fought off competition from London & Regional and Host Hotels.
The price paid for the 582-bedroom hotel equates to more than £515,000 per bedroom.
The sale is one of the largest in the London hotel market this year and marks a key disposal by Blackstone from the eight-asset Mint portfolio of hotels it bought for £600m in 2011.
Blackstone bought the Mint portfolio 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, WC2.
Eastdil Secured is acting for Blackstone.
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