London's Waldorf Hotel on the market for £250 million

One of London's most historic hotels, the five-star Waldorf, is up for sale for £250 million. Gulshan Bhatia, one of Britain's wealthiest Asian entrepreneurs, bought the 299-room Hilton Waldorf from Royal Bank of Scotland for £180 million in 2007.

Now, she is looking to 'increase her presence in London by using the money raised to snap up smaller hotels.' Bhatia, 77, also owns several other hotels in London.

Meanwhile, hotels worth a total of more than £600 million have recently been put up for sale, with industry experts blaming a combination of pent-up demand, low interest rates and exchange rates.

Some of the central London hotels for sale include the Radisson SAS Portman, which is being sold by advisory firm CB Richard Ellis for £120 million, the Park Plaza Riverbank for £120 million and Park Plaza Victoria for £40 million, with Savills advising. Citadines Hotel is also being sold by Knight Frank for £80 million.

James Blomfield, a partner at property advisory firm Gerard Nolan & Partners, said, "This year has seen a boom in hotel consolidation. We have not seen such activity since 2001.

“London is seen as a safe haven and the industry has remained recession-proof. The 2012 Olympics are also causing interest, with investors snapping up hotels to accommodate the influx of people,” he added.

It is believed that investors from Kuwait, Saudi Arabia and Qatar are keen to acquire hotels in London.

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