The Ritz London on the capital’s Piccadilly has been sold to a Qatari investor for an undisclosed sum.
The news follows the temporary closure of the property last week as a result of the ongoing coronavirus pandemic – the first time the hotel had closed its doors since it opened in 1906.
In a statement the hotel said:
“Following various press reports, we can confirm that The Ritz London has been acquired by a private Qatari investor. The hotel will remain closed due to the Covid-19 pandemic.
“As soon as it is safe, the new ownership together with the hotel’s team look forward to reopening the revolving door, and to the next chapter of Piccadilly’s iconic Grande Dame hotel.
“In the meantime, the new owners have confirmed their wish that all employees continue to receive their full salaries during this period of forced closure.”
Designed by French architect Charles-Frédéric Mewès and Englishman Arthur Davis, the hotel was opened by Swiss hotelier César Ritz, and had been owned by the Barclay brothers since the mid-90s. The pair had recently been in talks with Saudi investors over the possible sale of the property.