David Barclay, British hotel titan, dies at 86

Along with twin brother Frederick, owned the Ritz and other hotels

National /
Jan.January 13, 2021 09:00 AM
David Barclay (Getty; iStock)
David Barclay (Getty; iStock)

British billionaire David Barlcay, the co-founder of a business empire that includes retail, newspapers and some of the world’s most prominent hotels, has died at the age of 86.

Barclay died after a short illness, according to Bloomberg News.

Between ownership of The Telegraph, the Ritz Hotel in London’s Mayfair district and other real estate investments, Barclay and his twin brother Frederick are among the richest executives in the U.K. Their net worth is estimated at $4.3 billion, according to Forbes.

“It was a great journey in everything that we did, the good, the bad, the ugly,“ Frederick Barclay said in a statement. “We experienced it from being bombed out of our beds in Coventry to the deals that we made and the ones that got away.“

The brothers, who were born 10 minutes apart, started out in the 1960s by transforming old boarding houses into small hotels. They later expanded their empire with acquisitions of prominent London properties like the Ritz — which they sold in 2020 to a Qatari investor — and a stake in the hotel group that operated Claridges and the Connaught. They sold that stake in 2015.
The brothers also own Telegraph Group, the media company that publishes the Daily Telegraph and the Spectator, according to Bloomberg.

Despite their growth, the business largely remained a family affair, with the exception of a lawsuit that thrust the family into the spotlight.

”We were twins from the beginning until the end,” Frederick said in the statement. “He was the right hand to my left and I was his left hand to his right. We’ll meet again.”

[Bloomberg] — Sasha Jones






    Related Articles

    arrow_forward_ios
    (iStock)
    LA County sued over commercial eviction moratorium
    LA County sued over commercial eviction moratorium
    The future of San Francisco’s Oceanwide Center is up in the air again (Getty, Foster and Partners)
    Contractors pull out as Oceanwide Center sale falls through again
    Contractors pull out as Oceanwide Center sale falls through again
    Granite CEO Michael Dardick and Industrious CEO Jamie Hodari
    Industrious partners with landlords to offer tenants satellite workplaces
    Industrious partners with landlords to offer tenants satellite workplaces
    Colorado Campus at 2041-2115 Colorado Avenue and Northwestern Mutual CEO John E. Schlifske
    Northwestern Mutual picks up Santa Monica office campus for $166M
    Northwestern Mutual picks up Santa Monica office campus for $166M
    Prop 15 property tax measure draws millions (Credit: iStock)
    Prop 15 property tax measure draws millions of dollars from for and against campaigns
    Prop 15 property tax measure draws millions of dollars from for and against campaigns
    California is allowing barbershops and salons to reopen under new coronavirus mitigation guidelines (Credit: Noam Galai/Getty Images)
    California allows barbershops to reopen, but LA holds back
    California allows barbershops to reopen, but LA holds back
    LA County assessor Jeffrey Prang
    LA County properties valued at nearly $2 trillion…before pandemic
    LA County properties valued at nearly $2 trillion…before pandemic
    First District Supervisor Hilda Solis (Credit: Rebecca Sapp/Getty Images)
    LA County select reopening target date for restaurants and retailers
    LA County select reopening target date for restaurants and retailers
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...