Businessmen David and Frederick Barclay received several unsolicited offers for the prestigious Ritz Hotel, a London landmark, indicating that the establishment located at Piccadilly could be up for sale. Directors of the hotel have estimated the value of the hotel to be more than 800 million pounds ($980 million). It is certainly a prime piece of real estate, given its freehold tenure, location near St James's and Buckingham Palaces, quality of the building, casino lease and brand name.
The hotel was opened in 1906 by Swiss hotelier Cesar Ritz. It has since then become a status symbol and been favoured by royalty, celebrities and politicians. It has seen Aga Khan, Winston Churchill and the future Edward VIII among its frequent visitors. In 2018, the hotel had a turnover of 47 million pounds and made an operating profit of 15 million pounds.
According to sources in the accounts department, "the business is not and has not been marketed for sale".
The Barclays, also own the Daily Telegraph newspaper. And a source close to the Barclays, the duo have received offers for the hotel.
