Barclay brothers set to dominate London's luxury hotels with purchase of Maybourne
It is believed the Barclay brothers - the owners of London's Ritz hotel - have just completed a deal to purchase Maybourne Hotel Group-owned Claridge's, the Berkeley and the Connaught hotels.
Ireland's National Asset Management Agency NAMA] has confirmed that it has completed the sale of loans in excess of Euro800m (£695m) which were provided to the Maybourne Hotel Group by two Irish banks to fund the acquisition of the hotels in 2005. NAMA acquired the loans at the end of June 2010 from the banks.
The loans have been acquired by Maybourne Finance Limited, a company controlled by Sir David and Sir Frederick Barclay.
Sir David and Sir Frederick Barclay, who also own the Daily Telegraph and the Spectator magazine, will now monopolise the ownership of the capital's luxury hotel market.
The brothers also own the Cavendish hotel in London.
Barclay brothers increase stake in Maybourne Hotel Group >>
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By Janet Harmer
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