The Iconic Ritz London Could Sell For A Cool US$1 Billion
Several substantial—albeit unsolicited—offers have been made recently for one of the world's most prestigious hotels, The Ritz London.
The current owners of The Ritz London are billionaire twin brothers, David and Frederick Barclay, who also own The Telegraph newspaper and The Beaumont in Mayfair.
The pair bought The Ritz in 1995 for £75 million, and have received serious recent offers upwards of £800 million (approximately HK$7.9 billion) for the iconic Piccadilly property—a pretty price tag that would equate to the hotel's 136 glamorous guest rooms selling for £5.8 million each.
Needless to say, the Barclay brothers are tempted by the offers. But how easy will it be to let go of such an iconic establishment, and one that boasts such a rich history?
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The Ritz London has welcomed some of the world's most high profile visitors including members of the royal family. In 2002, HM Queen Elizabeth II hosted a party in The Ritz Restaurant as a ‘thank you’ to her close family and friends for the success of her Jubilee year.
A year later, Sir Roger Moore stayed at The Ritz when he was knighted in 2003—he checked in a mister, and left a Sir.
Other celebrity guests who have made The Ritz London their home away from home include Charlie Chaplin, Paul Getty, Winston Churchill and President Eisenhower to name a few.
Watch this space.