Secret garden 18 October 2019 After months of secrecy the Newt has opened its gates to a luxurious hotel, extensive gardens, cyder press and restaurant in the core of the Somerset countryside
In this week's issue... Secret garden After months of secrecy the Newt has opened its gates to a luxurious hotel, extensive gardens, cyder press and restaurant in the core of the [...]
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Owners of the Ritz London consider sale of hotel for record-breaking £800m

10 October 2019 by
Owners of the Ritz London consider sale of hotel for record-breaking £800m

The owners of the Ritz London are considering a sale of the iconic luxury property with a price tag that could make it the most expensive hotel in history.

According to a report in The Times today, the Barclay family is looking at options to off-load the five-red-AA-star, 136-bedroom for a reported £800m, a figure that is equivalent to nearly £5.9m per bedroom.

The Barclay family, headed by twins Sir David and Sir Frederick, bought the hotel in 1995 through its company Ellerman Investments for £75m from Trafalgar House. In the intervening years, the family has since bought and sold the Cavendish London hotel and last year acquired the Beaumont hotel after Corbin & King relinquished the lease to freeholder Grosvenor.

In the most recent financial results for the Ritz London, lodged at Companies House, the hotel reported a 2.2% increase in turnover to £47.08m, with a pre-tax profit of £7.03m down from £12.8m the previous year.

Earlier this year, the hotel was the focus of a four-part ITV documentary Inside The Ritz Hotel in which executive chef John Williams, who heads the hotel’s one-Michelin-starred restaurant, played a starring role.

The Ritz London was launched by legendary Swiss hotelier César Ritz in 1906, with French chef Auguste Escoffier in the kitchen.

The hotel declined to comment.

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