The famous luxury hotel was sold for approximately 800 million pounds (900 million euros) by the Barclay brothers. The identity of the buyer was not revealed.
In the heart of London's Mayfair district, the London palace founded at the beginning of the 20th century has 130 rooms. The property is currently closed due to the Coronavirus crisis in the United Kingdom.
The prestigious asset was sold for between 700 and 800 million pounds (exact value undisclosed), almost twenty-five years after it was acquired by the Barclay family for 75 million pounds.
Divisions within the Barclay family are creating complications for the sell to be definitly conclude. Sir Frederick Barclay declared through a spokesman that "This deal, if it has occurred, appears to have been pushed through in the middle of the coronavirus crisis in the hope that it will be uncontested." However, he is note legaly able to prostest again the deal.
The investor (still unknown) declared "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."
