Businessmen David and Frederick Barclay better known as owners of The Ritz, London run a pretty tight ship with hardly any interviews or a peek into their world of business and its strategies. But that didn’t stop news of The Ritz going up for sale from spreading like wildfire. Apparently the Barclay brothers have received several unsolicited offers for the establishment in Piccadilly. The Ritz is without a doubt one of the most prestigious hotels in the world; one that’s been a favorite of royalty, politicians and film stars. Opened in 1906 by Swiss hotelier Cesar Ritz, The Ritz has been owned since 1995 by David and Frederick Barclay.
The directors of the hotel said last month they believed its value was more than 800 million pounds ($980 million), given its freehold tenure, location near St James’s and Buckingham Palaces, quality of the building, casino lease and brand name. The number game is extremely fascinating too; the Ritz had a turnover of 47 million pounds in 2018 and made an operating profit of 15 million pounds, according to accounts filed last month. A representative of the Barclay brothers obviously declined to comment. Only time will tell if The Ritz will have a new owner and when….
[Via:HotelManagement]
