The hotel, which has a direct connection to Gatwick's South terminal building, will continue to be managed by Hilton. The property was built in 1980 and refurbished in 2003 and it has a restaurant, two bars, a Wellbeing Centre and 21 meeting rooms.
Arora Group said the purchase is part of the company's strategy "to focus on larger assets with greater revenue potential and to partner with major international brands".
Surinder Arora, founder and chairman of the Arora Group, said: "Hilton Gatwick presents a fantastic opportunity to partner once more with a major international brand, building on our existing relationship as a landlord for a number of Hilton-operated hotels."
Stephen Cassidy, senior vice-president operations and managing director, UK, Hilton, added: "Hilton pioneered the airport hotel concept, and we're continuing to provide exceptional service at London Gatwick Airport with Arora Group, a key partner for Hilton in the UK."
The Hilton London Gatwick will join Arora's two other Gatwick hotels: the Sofitel at the airport's North terminal and Arora Gatwick Crawley.
Arora Hotels operates eight of the 16 hotels it now owns. The company has a further three hotels under construction: Crowne Plaza Terminal 4 Heathrow, Holiday Inn Express Terminal 4 Heathrow, and the Terminal 2 hotel, Heathrow.
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