3 OCTOBER 2011

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Article from BTNews 3 OCTOBER 2011

Ritz Hotel gathers the Berkeley, Claridge’s and the Connaught

Three of London’s most famous and iconic luxury hotels, The Berkeley, Claridges and The Connaught, have been acquired by the owners of perhaps the daddy of them all, the Ritz.  Making the purchase was Britain’s most secretive landowners, brothers Sir David and Sir Frederick Barclay, residents of the Channel Island of Brecqhou, and owners of the Daily Telegraph.

The London properties have been acquired from the National Asset Management Agency (NAMA), the Irish Government agency which was created to manage the bad property debts of certain insolvent banks in Ireland.

With the purchase of the three hotels the Barclays now have a powerful cartel at the very top end of the market, most of the other properties considered competition, including The Dorchester and Fairmont Savoy, essentially stand alone although each is part of a major group in marketing terms. www.the-berkeley.co.uk www.claridges.co.uk www.the-connaught.co.uk

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