London’s iconic five-star Ritz hotel has seen its value increase to £735m after recording the highest revenues in its 107-year history.
The hotel saw revenue increase to £35.4m last year, up from £32.3m in 2011.
Owned by property tycoons Sir David and Sir Frederick Barclay, the hotel saw its value surge from £625m in 2010 to £735m this year after it increased the price of its fixed assets following “several unsolicited approaches” to buy the hotel.
The Ritz’s directors attributed the stellar performance to “the freehold tenure, the location, the constant superior maintenance of the property, the value of the casino lease and the unique Ritz brand”.
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