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I Top 10 Heritage Hotels With Owners
By Jason Lasrado
LEADERBOARD • INVESTING
Top 10 Heritage Hotels With Owners From The Middle East
Hotels of historical importance are dotted all across the world, showcasing the culture and history of their home countries. The value of these buildings lies not in their monetary worth, but in their founders and the stories behind them. A number of people from the Middle East have invested in these prestigious assets, especially in Europe, with London and Paris being the favorite destinations. Here is a list of heritage hotels owned by people from the Middle East.
Methodology
We looked at major hotels owned by people or companies based in the Middle East and ranked them based on: • Number of rooms • Price per room • Date of establishment • Government classification • History • Famous regular guests
1Ritz Paris
Location: Paris, France Owner: Mohammed Al Fayed Nationality: Egyptian
The Ritz Paris was built by Swiss businessman César Ritz in the Place Vendôme neighborhood in 1898. In 1979, Egyptian businessman Mohamed Al Fayed bought the Ritz for a reported $30 million and invested another $250 million to restore it to grandeur over the following decade.
2The Savoy Location: London, UK
Owner: Kingdom Holdings / Katara Hospitality Nationality: Saudi / Qatari
When it opened in 1889, The Savoy was the first purpose-built deluxe hotel in London. As such, it became a magnet for the wealthy, the famous, the glamorous, and the notorious, including Edward, Prince of Wales, later Edward VII. The Savoy closed for a major restoration in December 2007 and reopened in October 2010. HRH Prince Charles officially reopened the hotel in the presence of the owner of Kingdom Holdings, Prince Alwaleed Bin Talal Bin Abdulaziz Al Saud, in November 2010.
3Grosvenor House
Before it became a hotel in 1929, Grosvenor House—a large, detached house located on the south side of Upper Grosvenor Street in London—had several prominent owners, including the Duke of Cumberland and the Duke of Gloucester. In 1806, Lord Grosvenor, Duke of Westminster, bought the building and sold it to A.O. Edwards, who built what is now the Grosvenor House Hotel between 1927 and 1929. In November 2018, the hotel was acquired by Katara Hospitality, the Qatar Investment Authority’s hotel unit.
4Great Scotland Yard Hotel
Location: London, UK Owner: Twenty14 Holdings/ Adeeb Ahmed Nationality: Indian
In Tudor times, Great Scotland Yard served as an embassystyle dwelling for the Kings of Scotland when they visited London. In 1829, Home Secretary Sir Robert Peel selected Great Scotland Yard as the headquarters of the newly-founded Metropolitan Police force, which was made famous by novelists including Charles Dickens and Sir Arthur Conan Doyle. In 1890 the police headquarters moved to a new location, which was named New Scotland Yard. The current hotel at 3-5 Great Scotland Yard, which opened in December 2019, is owned by Twenty14 Holdings—an Abu Dhabi based investment company—and managed by Hyatt.
5Hôtel de Crillon
Location: Paris, France Owner: Mutaib bin Abdullah bin Abdulaziz Al Saud Nationality: Saudi
In 1758, King Louis XV of France, commissioned architect Ange-Jacques Gabriel, to build twin structures overlooking the Place de la Concorde. The private mansion was transformed into a luxury palace hotel in 1909. The property was bought by Saudi Prince Mutaib bin Abdullah bin Abdulaziz Al Saud in 2010. It closed for renovations in 2013 before re-opening in 2017. Lebanese interior designer, Aline Asmar D’Amman, and architect Richard Martinet designed the new building.
7The Lanesborough
Location: London, UK Owner: Abu Dhabi Investment Authority Nationality: Emirati
Lanesborough House was built adjacent to the grounds of Buckingham Palace in 1719 and opened as a hotel in 1991. The hotel’s Royal Suite is the largest suite in London, extending to seven bedrooms. It is among the only hotels in London to have a 24-hour butler service. The hotel is owned by the Abu Dhabi Investment Authority and since its relaunch in 2015 has been managed by the German-based Oetker Collection.
6Mandarin Oriental Ritz
Location: Madrid, Spain Owner: Olayan Family Nationality: Saudi
The Mandarin Oriental first opened its doors in 1910. King Alfonso XIII of Spain wanted a world class hotel in Madrid for his guests and became one of the major shareholders of the newly created Ritz Development Company. In May 2015, the hotel was acquired under a joint venture ownership comprised of Mandarin Oriental International Limited and the Olayan Group—a Saudi Arabian-based multinational group owned by the Olayan family. The hotel is currently undergoing renovations and is slated to open in the spring of 2021.
8The Ritz
The Ritz London opened its doors in 1906. Billionaire Paul Getty—the richest man in the world at the time—had a suite at the hotel. Winston Churchill, Dwight Eisenhower and Charles de Gaulle met in the Marie Antoinette Suite to discuss operations during the Second World War. The hotel was bought in 1995 by Ellerman Investments, a private company owned by British billionaires David and Frederick Barclay. In March 2020, the hotel was bought by Abdulhadi Mana Al-Hajri—the ruler of Qatar’s brother-in-law.
10 Hotel Imperial
Location: Vienna, Austria Owner: Khalaf Ahmad Al Habtoor/ Al Habtoor Group Nationality: Emirati
Built in 1863 as Prince Philipp of Württemberg’s Viennese residence, the Hotel Imperial was transformed into a hotel to accommodate visitors of the 1873 Expo. The hotel has been owned by Al Habtoor Investment since February 2016, which is owned by Emirati businessman Khalaf Al Habtoor. It is also part of “The Luxury Collection” under a long-term management contract.
9The Westin Excelsior
The Westin Excelsior Rome was established in 1906. In 1944, the hotel became the temporary headquarters of General Mark Clark after the US Army entered Rome. The hotel hosted the cast and crew of Ben-Hur in 1959. Starwood sold the hotel toQatar-basedKatara Hospitalityin 2015.
