{"id":619,"date":"2015-06-05T10:12:07","date_gmt":"2015-06-05T10:12:07","guid":{"rendered":"http:\/\/88.84.77.183\/animo\/en\/?p=619"},"modified":"2015-06-05T10:14:00","modified_gmt":"2015-06-05T10:14:00","slug":"mandarin-oriental-olayan-joint-venture-to-acquire-hotel-ritz","status":"publish","type":"post","link":"https:\/\/www.esmadrid.com\/mcb\/en\/news\/mandarin-oriental-olayan-joint-venture-to-acquire-hotel-ritz\/","title":{"rendered":"Mandarin Oriental-Olayan joint venture to acquire Hotel Ritz"},"content":{"rendered":"<p>Mandarin Oriental announced that it is to acquire the Hotel Ritz for \u20ac130 million in a joint venture with the Olayan Group, a Saudi Arabian multinational group.<\/p>\n<p>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.<\/p>\n<p>The hotel will undergo a comprehensive renovation in 2017. The renovation will encompass all rooms and public areas, with the Hotel also benefiting from the addition of a spa and a variety of new restaurants and bars, all designed to enhance the property\u2019s position.<\/p>\n<p>The 167-room Hotel, which first opened in 1910, is located within an exclusive residential area close to Madrid\u2019s financial and commercial district and a number of the city\u2019s most famous cultural attractions, including the Prado Museum and Retiro Park.<\/p>\n<p>Mandarin Oriental Hotel Group is the award-wining owner and operator of some of the most luxurious hotels, resorts and residences.<\/p>\n<p><a href=\"http:\/\/www.mandarinoriental.com\/madrid\/\">http:\/\/www.mandarinoriental.com\/madrid\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mandarin Oriental announced that it is to acquire the Hotel Ritz for \u20ac130 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, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":620,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mandarin Oriental-Olayan joint venture to acquire Hotel Ritz - Madrid Convention Bureau (en)<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.esmadrid.com\/mcb\/en\/newsold\/mandarin-oriental-olayan-joint-venture-to-acquire-hotel-ritz\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mandarin Oriental-Olayan joint venture to acquire Hotel Ritz - Madrid Convention Bureau (en)\" \/>\n<meta property=\"og:description\" content=\"Mandarin Oriental announced that it is to acquire the Hotel Ritz for \u20ac130 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, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.esmadrid.com\/mcb\/en\/newsold\/mandarin-oriental-olayan-joint-venture-to-acquire-hotel-ritz\/\" \/>\n<meta property=\"og:site_name\" content=\"Madrid Convention Bureau (en)\" \/>\n<meta property=\"article:published_time\" content=\"2015-06-05T10:12:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2015-06-05T10:14:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.esmadrid.com\/mcb\/en\/wp-content\/uploads\/sites\/3\/2015\/06\/Ritz-ok.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"520\" \/>\n\t<meta property=\"og:image:height\" content=\"290\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"editor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"editor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.esmadrid.com\\\/mcb\\\/en\\\/newsold\\\/mandarin-oriental-olayan-joint-venture-to-acquire-hotel-ritz\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.esmadrid.com\\\/mcb\\\/en\\\/newsold\\\/mandarin-oriental-olayan-joint-venture-to-acquire-hotel-ritz\\\/\"},\"author\":{\"name\":\"editor\",\"@id\":\"https:\\\/\\\/www.esmadrid.com\\\/mcb\\\/en\\\/#\\\/schema\\\/person\\\/cc0f4a72833d0376034828bc8f99ca0b\"},\"headline\":\"Mandarin Oriental-Olayan joint venture to acquire Hotel Ritz\",\"datePublished\":\"2015-06-05T10:12:07+00:00\",\"dateModified\":\"2015-06-05T10:14:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.esmadrid.com\\\/mcb\\\/en\\\/newsold\\\/mandarin-oriental-olayan-joint-venture-to-acquire-hotel-ritz\\\/\"},\"wordCount\":172,\"image\":{\"@id\":\"https:\\\/\\\/www.esmadrid.com\\\/mcb\\\/en\\\/newsold\\\/mandarin-oriental-olayan-joint-venture-to-acquire-hotel-ritz\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.esmadrid.com\\\/mcb\\\/en\\\/wp-content\\\/uploads\\\/sites\\\/3\\\/2015\\\/06\\\/Ritz-ok.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.esmadrid.com\\\/mcb\\\/en\\\/newsold\\\/mandarin-oriental-olayan-joint-venture-to-acquire-hotel-ritz\\\/\",\"url\":\"https:\\\/\\\/www.esmadrid.com\\\/mcb\\\/en\\\/newsold\\\/mandarin-oriental-olayan-joint-venture-to-acquire-hotel-ritz\\\/\",\"name\":\"Mandarin Oriental-Olayan joint venture to acquire Hotel Ritz - 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