Barclay brothers reveal flow of bids for Ritz hotel

 
Kasmira Jefford
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SIR DAVID and Sir Frederick Barclay have recieved several unsolicited bids for their Ritz Hotel in Piccadilly and have valued the legendary site to be worth more than £625m.

The Barclay brothers, who also own the Telegraph newspapers, revealed the approaches in the hotel’s annual results published on companies house, which also states that the Ritz “achieved the highest sales revenue in its history” against a difficult economic backdrop.

Turnover at the Ritz last year rose from £28.4m to £31.3m, resulting in a profit of £6.7m before tax against £5.4m the year before.

The billionaire twins recently added to their fast-growing property empire by buying a trio of London’s top hotels including Claridge’s and the Connaught, in a £700m Irish property debt fire sale.