The True Story Behind Mohamed Al Fayed's Purchase of the Ritz Paris
The Ritz Paris has a storied history. The hotel, which opened in 1898, counts royalty, celebrities, and other famed personalities amongst its guests. Built by Swiss hotelier César Ritz, ownership of the iconic institution passed to his son, Charles Ritz, and then upon Charles's death in 1976, his widow, Monique Ritz, took over.
Yet, Monique's tenure as owner did not last long: In 1979, Egyptian businessman Mohamed Al Fayed purchased the hotel for $20 million. Al Fayed is perhaps best known as the father of Dodi al-Fayed, the boyfriend of Princess Diana who perished alongside the Princess of Wales in the August 1997 car crash in Paris—Diana and Dodi spent the evening in the Ritz Paris the night before their death.
"When I bought the Ritz, I had in mind to refurbish the hotel in César Ritz’s image—to do things here that would excite me and at the same time make Monsieur Ritz proud of his place if he were to see it today. It took us years, but I’m sure we brought a smile to Monsieur Ritz’s face. It was a joyful experience," Fayed told Vanity Fair.
Season five of The Crown features this sale of the Ritz Paris by Monique Ritz (portrayed by Philippine Leroy-Beaulieu) to Mohamad al-Fayed (portrayed by Salim Daw), with the fictional Mohamad giving a stirring speech about discrimination to Monique in an argument for why his bid for the Ritz should win.
The show depicts Mohamad making the purchase made with his brothers, Ali Al Fayed and Salah Al Fayed. In real life, the brothers all did, in fact, buy the Ritz together. In addition, a few years later, the Fayed brothers purchased luxury department store Harrods together. "We were brought up together and did everything together," Mohamad told the New York Times in 1985.
On top of the $20 million price tag, the Fayed family soon poured money into a renovation. "Mr. Fayed provided $50 million for the restoration and renovation of the Ritz," Frank Klein, who Fayed installed as managing director, explained. "The rooms were all restored to their old elegance, the bars completely refurbished—the Little Bar became the Hemingway Bar. The restaurants were given a new look, and a swimming pool, health club, and spas were created in the basement. The Ritz once again became the Ritz."
In 2012, the famed hotel shut down for renovations. "Closing down the hotel was not an easy decision to make, but it was necessary to maintain the pre-eminent position of the Ritz Paris," Fayed explained at the time. It reopened in 2016. "The new Ritz Paris remains the same as the old Ritz Paris but in a better version," he said.
In 2019, he stepped down as chairman of the hotel. "After decades of continuous involvement, Mr Al-Fayed has decided it was time to pass his duties as chairman," a statement from the Ritz Paris said; however, as of 2022, Al Fayed, now 93, still owns the Ritz.
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