• Short Summary

    In France, the Ritz is the latest in a line of Paris luxury hotels that have been bought by oil-rich Arab consortiums.

  • Description

    In France, the Ritz is the latest in a line of Paris luxury hotels that have been bought by oil-rich Arab consortiums. The Ritz, perhaps the world's most famous hotel, gained some of its renown from its connections with American authors, Ernest Hemmingway and Scott Fitzgerald. For many years it was the home of the century's best-known figure in haute couture -- Coco Chanel.

    SYNOPSIS: The hotel was built int he Place Vendome by Cesar Ritz in 1898. After he died, his wife made the Ritz the place to stay when the rich and famous visited Paris. The hotel's managing director, Monsieur Bernard Ponche announced on Monday (19 March) that an Arab consortium similar to the one which bought another great Parisien hotel the Meurice, had bought a majority share holding in the company. Membership of the consortium, like the sum paid for the Ritz, is unknown, but sources in Paris suggest it includes several Saudi Arabians.

    Now the Ritz has gone the way of the Prince de Galles, and Parisians regret another part of their heritage passing into Arab hands. The French Ministry of Finance still has to approve the sale, though this seems a formality. In any case, the deal has ensured the Ritz stays in business for at least twenty-five years more.

  • Tags

  • Data

    Film ID:
    VLVAC53G0JCX2L9WJYEPC7BTWPBT6
    Media URN:
    VLVAC53G0JCX2L9WJYEPC7BTWPBT6
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    20/03/1979
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:04:00
    Time in/Out:
    /
    Canister:
    N/A

Comments (0)

We always welcome comments and more information about our films.
All posts are reactively checked. Libellous and abusive comments are forbidden.

Add your comment