By John Smith • Published: 03 Apr 2020 • 13:25
THE Ritz Hotel has become a survivor of the coronavirus crisis as the day it closed under the lockdown it was sold for an undisclosed sum to a Qatari investment fund which has indicated that it will pay all of the existing staff in full until the hotel can reopen.
The previous owners, the Barclay Brothers, owners of the Daily Telegraph and now in their 80’s are thought to have expected to sell the historic property for far more than the £80 (€88) million they paid for it in 1995 with a figure of €1 billion already mentioned.
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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Currently he is acting as Editorial Consultant for the paper helping to shape its future development. Share your story with us by emailing newsdesk@euroweeklynews.com, by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews
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