If you’re blue and you don’t know where to go to, you could always just buy where fashion sits. London’s swanky Ritz.
The owners of the famous hotel for the rich and famous have reportedly hinted they’re open to selling the facility, putting a $1 billion price tag on the deal, according to Reuters.
Currently owned by David and Frederick Barclay, The Ritz has been around since 1906. It’s where Winston Churchill, Dwight Eisenhower, and Charles de Gaulle met during World War II, and has long been a favorite of movie stars, as far back as Charlie Chaplin.
The cheapest room at the hotel (which is not affiliated with the Ritz-Carlton chain or the Paris Rits, which bears the same name) currently goes for $675 per night. And it’s one of the few hotels that has a hit pop song dedicated to it.
Despite that minimum rate, real estate experts say it’s unlikely The Ritz will be a big moneymaker for any new owner due to the proliferation of hotels with lower prices, but substantially more rooms. It has 111 rooms, 25 suites and several bars and restaurants. The Ritz is, however, a trophy holding for the very rich.
Officially, the Ritz has not been marketed for sale, but sources close to the Barclays say they have received unsolicited offers and are open to considering them.
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