Sir David Rowat Barclay and Sir Federick Hugh Barclay

Barclays brothers to sell Ritz hotel for £750m to Sidra

The Ritz London
The Ritz London
Sir David Rowat Barclay and Sir Federick Hugh Barclay
Sir David Rowat Barclay and Sir Federick Hugh Barclay

Sir David and Sir Frederick Barclay are selling the Ritz hotel for £750m  to Sidra Capital a wealthy Saudi Arabian family investment business.

The hotel in Piccadilly, built by Cesar Ritz in 1906, has been popular with stars since the age of Charlie Chaplin and Ballerina Anna Pavlova,  is one of  London’s most coveted property is being sold for the first time in 25 years. The hotel also hosted a historic meeting between Winston Churchill, Dwight Eisenhower, and Charles de Gaulle during the Second World War.

A champagne afternoon tea for two people costs £170.

The Barclay Brothers bought this hotel for £75m in 1995 and have invested tens of millions of pounds to restore it to its former magnificence.

The Ritz made a pre-tax profit of £7m on £47m turnover in 2018 down from £12.8m profit a year earlier. Ritz casino made an £8.9m loss during last year on £17.6m turnover.

The Grosvenor House Hotel in Park Lane was acquired by the Qatar Investment Authority in 2018 and the Barclay brothers acquired the Beaumont hotel in Mayfair that same year.