Watergate Hotel for sale

Six potential buyers are interested in acquiring the Watergate Hotel in Washington DC, according to reports.

PB Capital took back the property after no one entered a bid during an auction last month. Bidding opened at $25m (€17.6m), The Washington Post reported.

Kurt Sachs, senior managing director at PB Capital, said the interested parties are hotel chains. He said their executives would be touring the Watergate to determine how much it would cost to renovate.

Mr Sachs said the first person to present a cheque will get the hotel.

The Watergate is part of a complex of six buildings made famous by the 1972 burglary that led to President Richard Nixon’s resignation.