Blackstone is selling the four-star DoubleTree by Hilton Westminster, SW1, for around £172m.
The 460-bedroom hotel will be marketed in September as part of Blackstone’s ongoing disposal of its Mint hotel portfolio.
The Westminster property is the last of nine hotels – eight in the UK and one in the Netherlands – to be put up for sale from the portfolio, which Blackstone bought in 2011 for about £600m from Lloyds Banking Group.
The bank had taken control of the assets after Mint breached the covenant on a £450m loan.
In January 2015, Blackstone agreed a £550m refinancing with JP Morgan for the portfolio, reducing the cost of existing debt, taking cash out of the deal and paving the way for a sale.
Five of the hotels – in Glasgow, Leeds, Birmingham, Bristol and Manchester – were sold last April to Marathon Asset Management in a £160m deal. They were rebranded as Doubletree by Hilton and Hilton Garden Inn.
Blackstone held on to the remaining and most valuable properties, starting a sale process in May through Eastdil Secured, which is understood to be the most likely broker for the Westminster asset.
The private equity giant is also selling the DoubleTree by Hilton at the Tower of London, EC3, for around £350m.
Also up for sale are the Hilton DoubleTree hotels in Dublin and Amsterdam. They are valued at €340m (£292m) and €180m (£154m) respectively. All three hotels have more than 500 bedrooms each.
• To send feedback, e-mail amber.rolt@estatesgazette.com or tweet @amberrolt or @estatesgazette
