Hotel Development London

Londonís Ritz Could Get a Rebrand, Extension in $1 Billion Sale - Bloomberg

Excerpt from Bloomberg

Barclay brothers have hired brokers, advisers to arrange sale - Hotel will be offered to a handful of global investors

The billionaire Barclay brothers have kicked off the sale process of London’s landmark Ritz hotel, giving the world’s super wealthy a rare chance to re-shape one of the U.K. capital’s most storied properties.

Broker Jones Lang LaSalle Inc. has been hired to work alongside Spartan Advisors, the investment and advisory firm founded by the brothers’ long-term associate Richard Faber, according to people familiar with the sale process. The hotel will be offered to a handful of global investors, together with a building next door on Arlington Street that could pave the way for an extension of about 50 rooms, the people said, asking not to be identified as the details are private.

Representatives for Jones Lang LaSalle and Spartan declined to comment. A spokesman for the Barclay brothers didn’t immediately respond to a request for comment.

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