The restaurant, which opened in 2014, held its last service at the hotel last December. The space, which occupies the ground floor of the 297-bedroom hotel, will re-open under a new concept shortly.
A spokesperson for Todiwala said the closure of Assado at the Hampton by Hilton London Waterloo was not the end for the restaurant and that there were plans to re-open it in Canary Wharf in September.
In an interview at Assado last year Todiwala said it had been a challenge to encourage hotel guests to choose the restaurant for lunch. Likewise its integration within the hotel is thought to have made it harder to encourage non-guests to eat.
"We have worked hard to get the restaurant established," Todiwala told BigHospitality in April last year. "Assado is used for breakfast in the morning and it has been difficult for people to understand that it is also somewhere they can have lunch and dinner, but now 50 per cent of the guests staying here are also dining in the evening and that’s pretty good."
Todiwala continues to operate Cafe Spice Namaste in East London and Mr Todiwala's Kitchen at the Hilton London Heathrow Terminal 5.
New concept Greenport Kitchen, serving burgers, pizzas and roast chicken, is expected to open in the space previously occupied by Assado at the Hampton by Hilton London Waterloo although no further details have been revealed.