The Ritz in Madrid is a luxurious hotel situated in the heart of the Spanish capital. It is known for its exquisite architecture and world-class amenities that attract guests from all around the globe.
But, have you ever wondered who owns this magnificent property? Let’s dive deeper into the ownership of this iconic hotel.
History of The Ritz Madrid
The Ritz Madrid was built in 1910 by Cesar Ritz, a Swiss hotelier who was famous for his impeccable taste and attention to detail. The hotel was designed to be an epitome of luxury and elegance, and it quickly became a popular destination among the aristocrats and celebrities of that era.
Ownership History
Over the years, The Ritz Madrid has changed hands several times. In 1976, it was acquired by Banco Exterior de España, which later sold it to Mandarin Oriental Hotel Group in 1998. Mandarin Oriental operated the hotel for almost 10 years before selling it to Belmond Ltd., formerly known as Orient-Express Hotels Ltd., in 2008.
Belmond Ltd. owned the hotel for more than a decade before being acquired by French luxury goods group LVMH Moët Hennessy Louis Vuitton SE (LVMH) in 2019. The acquisition included all Belmond properties worldwide, including The Ritz Madrid.
Current Ownership
As of now, LVMH is the proud owner of The Ritz Madrid. It is part of their hospitality portfolio that includes other prestigious brands such as Cheval Blanc and Bulgari Hotels & Resorts.
The Future of The Ritz Madrid
Under LVMH’s ownership, The Ritz Madrid has undergone significant renovations to restore its original beauty while adding modern amenities to cater to today’s discerning travelers. In early 2021, it reopened its doors to guests after a two-year renovation that cost over €100 million.
With LVMH’s deep pockets and commitment to providing unparalleled luxury experiences, The Ritz Madrid is set to continue its legacy as one of the world’s most iconic hotels for years to come.
Conclusion
In conclusion, The Ritz Madrid has had a rich and colorful history of ownership changes. While it has been owned by several entities over the years, LVMH is the current owner of this magnificent property. With their investment in restoring and renovating it, guests can look forward to an even more luxurious experience at The Ritz Madrid.