The Ritz London hotel owners mull £800m sale

By Sophie Witts contact

- Last updated on GMT

The Ritz London hotel owners mull £800m sale

Related tags: Hotel, Restaurant

The billionaire brothers that own The Ritz London are reportedly mulling an £800m sale of the iconic hotel.

Twins David and Frederick Barclay, who also own The Telegraph​ newspaper and The Beaumont Hotel in Mayfair, bought the Ritz for £75m in 1995.

Now The Times​ reports that the brothers have appointed Richard Faber, Frederick’s former son-in-law, to advise them on a potential sale.

They are understood to have recently received serious approaches in the region of £800m, equivalent to around £6m per bedroom in the hotel.

Experts told The Times​ that buyers are likely to be from outside Europe. Qatar's Constellation Hotels bought out the Barclay’s majority stake in Maybourne Hotel Group, which is behind high-end London hotels Claridge’s, the Berkeley and the Connaught, in 2015.

The Ritz was originally opened by Swiss hotelier César Ritz in 1906.

Its restaurant was awarded a Michelin star in the 2017 edition of the red book.  

BigHospitality​ has approached The Ritz for further comment. 

Related topics: Business

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