The Government of Singapore Investment Corporation is among the final bidders for the Grosvenor House Hotel in London, UK.
The sale, worth £500m ($727.1m), is expected to be the biggest amount for a European hotel, according to consultancy firm HVS.
US lodging and real-estate investment trust Host Hotels & Resorts has teamed up with the Singapore fund for the acquisition.
The sale is expected to be delayed if the eurozone crisis deepens, according to wsj.com.
RBS and CB Richard Ellis Hotels Group own the five-star 494-room property, which has been operated by JW Marriot Hotels & Resorts since 2008.