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The Ritz sells for under £800m

The Ritz London has been acquired by a private Qatari investor for reportedly under £800m. Sir David and Sir Frederick Barclay sold the hotel together with an adjoining property, which offers the potential for an extension.

A spokesperson for the new owner said in the statement, “It is a privilege to become the owner of the iconic Ritz Hotel and have the opportunity to build on its innate style and grand traditions.'

The 136-room hotel closed on Friday for the first time since it was opened by Ceasar Ritz in 1906, as London shutdown amid the coronavirus pandemic.

The company stated, 'The hotel will remain closed due to the Covid-19 pandemic. As soon as it is safe, the new ownership together with the hotel’s team look forward to reopening the revolving door, and to the next chapter of Piccadilly’s iconic Grande Dame hotel.

'In the meantime, the new owners have confirmed their wish that all employees continue to receive their full salaries during this period of forced closure.'