The 378-bedroom Hilton London Docklands Riverside is to be refurbished and rebranded as the DoubleTree by Hilton London Docklands hotel, following its acquisition by private equity group HIG Capital.
Situated on the South Bank in Rotherhithe Street, the hotel, which was previously owned by Swedish investor Pandox, will continue to be managed by Hilton Worldwide. It was sold off a guide price of £60m and will become the 11th DoubleTree by Hilton in Greater London.
The rebranding will take place in the spring, with the renovation of all the bedrooms and public areas, including 16 meeting rooms and the Terrace restaurant and Terrace lounge bar, being completed by the end of the year.
Patrick Fitzgibbon, senior vice president, development, Europe & Africa, Hilton Worldwide, said: "The property's recent sale and lease agreement's conclusion has created a unique opportunity to redevelop and transition the hotel under our upscale DoubleTree by Hilton brand.
"Building on our existing relationship with HIG Capital and following a substantial refurbishment programme, we are looking forward to introducing new guests to DoubleTree by Hilton in one of London's prime business districts."
Sanjoy Chattopadhyay of HIG Capital, added: "This is a unique asset in a unique location and we were pleased to invest a substantial sum in its repositioning, consistent with our focus on medium-sized value-add opportunities in the hotel sector."
DoubleTree by Hilton is Hilton Worldwide's fastest growing full service brand, with more than 400 properties in 34 countries. The brand is one of 12 operated by the company across more than 4,300 hotels worldwide.