Singapore-based Asian investment house Bright Ruby has acquired the Sydney Hilton Hotel on George Street for $442 million, Hilton Worldwide has said.

Bright Ruby, which in 2013 paid nearly $1 billion for the Grand Park Orchard Hotel in Singapore and nearly $300 million for two Sydney office towers, is among those circling Sydney's other $400 million plus five-star hotel offering, the Westin Sydney – alongside China's Sunshine Insurance Group, real estate giant Fu Wah International Group, Malaysia's Mulpha and Singapore's City Developments.