Bids Exceed £1bn For London's Ritz Hotel

By Dave Simpson
Bids Exceed £1bn For London's Ritz Hotel

Co-owner of London's Ritz hotel Frederick Barclay has revealed that there have been bids of over £1 billion to purchase the property, which was recently put on the market.

Competing Offers

The Irish Independent quotes Barclay as saying, "I can disclose that there have been a number of competing offers for this first-class hotel in excess of £1 billion.

"I have no doubt that such offers will be considered so that The Ritz is sold at the right time and for a proper price.

"There is no place for any sale at less than full value. A sale below the proper value would give rise to further litigation. This would be regrettable."

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