The Marriott London Grosvenor Square hotel has been sold to Asian interests for £125.15 million.
US company Strategic Hotels & Resorts has disposed of the property as it exits the European market.
The 237-room hotel has been acquired by an affiliate of Hong Kong-based private equity firm Joint Treasure.
Net proceeds from the transaction total approximately £58.1 million, after the repayment of property-level net debt of £67 million, Strategic said.
The company also completed the acquisition of a remaining half share in the 649-room Fairmont Scottsdale Princess resort for $90.6 million.
Strategic Hotels chairman and chief executive Raymond Gellein said: “By closing on the sale of the Marriott London Grosvenor Square, we are finalising our exit of the European market, as previously committed.
“In addition, this sale will eliminate approximately $1 million of annual frictional costs associated with the asset and allow us to redeploy capital into one of the highest growth assets in our portfolio.”