Low-profile Monaco residents the Barclay twins are reportedly in talks to sell the 114-year-old Ritz London hotel to Sidra Capital, an investment group of wealthy Saudi Arabian families. Sidra’s controlling shareholder is Al-Murjan Holding Group, according to Sidra’s corporate website.
The asking price is between £750 and £800 million, according to the Financial Times.
The hotel is located in Mayfair area and was bought by Sir David and Sir Frederick, both 84, for £75 million in 1995.
The Ritz’s famous Afternoon Tea is served daily at 11.30, 13.30, 15.30, 17.30, and 19.30, priced at £60 for adults and £40 for children.
The family has also owned, since 2004, the Daily Telegraph newspaper. The brothers live in Brecqhou, in the Channel Islands, and in Monaco.
ORIGINAL SOURCES: The Ritz, The Times, Financial Times PHOTO: Afternoon Tea Richard Chang