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London's Ritz hotel could be up for sale for $1 billion
The Ritz London, one of the most prestigious hotels in the world, could be put up for sale after its businessmen owners David and Frederick Barclay received several unsolicited offers for the establishment in Piccadilly.
The directors of the hotel said last month they believed its value was more than 800 million pounds ($980 million), given its freehold tenure, location near St James's and Buckingham Palaces, quality of the building, casino lease and brand name.
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