The Barclay brothers, owners of London's Ritz hotel (pictured), could soon monopolise the ownership of London's luxury hotel market, as their financial stake in the Maybourne Hotel Group looks set to grow.
After acquiring a 24.8% stake in Maybourne, which owns the Berkeley, the Connaught and Claridge's hotels in London, last week, Sir David and Sir Frerderick Barclay have agreed the purchase of a further 35% of the company from Irish property entrepreneur, Derek Quinlan.
Tey acquired the initial shares after buying Misland (Cyprus) Investments - owners of a 24.8% stake in Coroin, the parent company of Maybourne - from the Dublin-based Green family, for an undisclosed sum.
Maybourne's other major shareholder is the Irish entrepreneur Paddy McKillen, with Kyran McLaughlin, an Irish stockbroker, Many of the loans backing McKillen are now controlled by Ireland's National Asset Management Agency.
The Maybourne Hotel Group would not comment on the Barclays acquisition into the company.
By Janet Harmer
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