KSA investors show interest to buy London’s Ritz Hotel

Talks are being held to sell the hotel to a private investment group

The Barclay brothers reportedly are looking for offers over US$979 million
The Barclay brothers reportedly are looking for offers over US$979 million

Undisclosed Saudi Arabian families are in talks to purchase the famous Ritz Hotel in London.

Sister-publication Arabian Business reported the families are being represented by a private investment group and are talking with current-owners Sir David and Sir Frederick Barclay.

The Financial Times broke the news, saying the brothers are reviewing interest from Jeddah-based Sidra Capital. The brothers reportedly are looking for offers over US$979 million. The publication added both the Barclays and Sidra Capital have not yet commented.

The Barclays purchased the hotel in 1995 for approximately $97 million but have made investments worth tens of millions said The Financial Times.

Situated in most of the most popular areas of London, the Piccadilly-located hotel is one of the most iconic in London and popular amongst celebrities and tourists alike.

For all the latest hospitality news from UAE, Gulf countries and around the world, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page.

Most Popular

Newsletter

Reports

Human Capital Report 2017

Human Capital Report 2017

The second annual Hotelier Middle East Human Capital Report is designed to explore the issues, challenges and opportunities facing hospitality professionals responsible for the hotel industry’s most important asset – its people. The report combines the results of Hotelier Middle East's HR Leaders Survey with exclusive interviews with the region's senior human resources directors.

Hotelier Middle East Housekeeping Report 2016

Hotelier Middle East Housekeeping Report 2016

The Hotelier Middle East Housekeeping Report 2016 provides essential business insight into this critical hotel function, revealing a gradual move towards the use of automated management and a commitment to sustainability, concerns over recruitment, retention and staff outsourcing, and the potential to deliver much more, if only the industry's "image problem" can be reversed.

From the edition

From the magazine