Are you curious to know who owns the iconic Ritz Hotel Madrid? Well, the answer is not as straightforward as one may think. Let’s dive into the history of this luxurious hotel and unravel who the rightful owner is.
History of Ritz Hotel Madrid
The Ritz Hotel Madrid was inaugurated in 1910 by César Ritz, a renowned hotelier known for his impeccable hospitality and luxurious accommodation. The hotel quickly became a symbol of elegance and sophistication, attracting celebrities and royalty from around the world.
Throughout its history, the Ritz Hotel Madrid has undergone several renovations to maintain its charm and grandeur. In 2018, the hotel underwent a major renovation led by the Mandarin Oriental Group, which managed the property at that time.
The Ownership of Ritz Hotel Madrid
In 2015, businessman Abel Matutes Prats purchased the Ritz Hotel Madrid for €130 million through his company Grupo Matutes. However, in 2017, Mandarin Oriental Group signed a management contract with Grupo Matutes to manage the hotel’s operations.
In 2021, it was announced that Mandarin Oriental Group had acquired ownership of the Ritz Hotel Madrid for €130 million from Belmond Spanish Holdings, a subsidiary of LVMH Moet Hennessy Louis Vuitton SE. The acquisition marked Mandarin Oriental Group’s first hotel in Spain.
Mandarin Oriental Group
Mandarin Oriental Group is an international hotel investment and management firm with a portfolio of luxury hotels across Asia, Europe, and America. The group has earned a reputation for providing exceptional service and luxurious accommodation to its guests.
Conclusion
In conclusion, while Grupo Matutes owned and managed the Ritz Hotel Madrid for a brief period between 2015-2021, it was ultimately purchased by Mandarin Oriental Group in 2021 for €130 million. As the new owner, Mandarin Oriental Group is committed to preserving the hotel’s legacy and providing its guests with the highest levels of luxury and hospitality.