Saudi Fund Offered $1.6 Billion for Ritz Hotel Amid Family Feud

Saudi Fund Offered $1.6 Billion for Ritz Hotel Amid Family Feud

Saudi Fund Offered $1.6 Billion for Ritz Hotel Amid Family Feud. Saudi Arabia investment fund Sidra Capital offered 1.3 billion pounds ( $1.6 billion ) for the luxurious Ritz Hotel in London before it was eventually sold for nearly half of that sum to a private Qatari investor.. The once inseparable pair, who also own the Telegraph newspaper, have since handed control of their businesses to their children, who are now locked in a bitter family feud being publicly fought in the courts.. The Saudi fund had made an initial offer of some 1.3 billion pounds for the property, he said.. Frederick Barclay said previously in March that he had received competing offers in excess of 1 billion pounds and had threatened legal action if the hotel sold for less..