The Watergate Hotel, notorious for its part in the scandal that caused US President Richard Nixon to resign in 1974, failed to attract any bids when it was put on auction last week.

The 151-room hotel is part of the Watergate Complex in Washington DC, and the burglars who broke into the adjacent Democratic Party offices in 1972 slept in the hotel the night before the crime – which eventually led to Nixon’s resignation.

The hotel had an asking price of US$25m (£15.1m, 17.5m euro) but could not find a buyer.

Monument Realty bought the hotel in 2004 for US$45m (£27.2m, 31.5m euro) but failed to make its US$170m (£84.9m, 98.2m euro) renovation programme a reality and the hotel has been closed since 2007.

According to the BBC, PB Capital, which loaned US$40m (£24.2m, 28m euro) to Monument Realty, will now try to find a new owner for the hotel.