, Singapore

Mandarin Oriental to acquire Hotel Ritz in Madrid for $197.3m

With a joint venture partner.

Mandarin Oriental will acquire the Hotel Ritz, Madrid for $197.3m (€130 million) in a joint venture with The Olayan Group, a Saudi Arabian multinational group.

Mandarin Oriental and Olayan will each hold a 50% interest in the joint venture, which is purchasing all of the shares in the owning company, Hotel Ritz Madrid, S.A., from its existing shareholders.  

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