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… Read Full Article