US private equity firm HIG Capital has sold the 378 bedroom Doubletree by Hilton Hotel London - Docklands Riverside to a Chinese investor.
Sources close to the deal said that the transaction value was around £80 mln (€95 mln). HIG Capital declined to comment on the value of the sale.
The property, which is located in east London's Docklands district, was refurbished and rebranded as a Doubletree by Hilton after its acquisition by HIG in 2014.
'This transaction is a great example of HIG’s value-added approach and has resulted in an outstanding outcome for HIG and its investors, particularly following the EU referendum,' said Riccardo Dallolio, managing director at HIG in London.
Sanjoy Chattopadhyay, principal at HIG in London added: 'Through a series of targeted asset management initiatives, we have successfully transformed a complex property into a refreshed and institutional-quality hotel. The Doubletree Docklands Riverside is now considered a leader in its category.'
