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Losses at Paris Ritz

By 11 Nov 2002

The Paris Ritz, the exclusive hotel owned by Harrods boss Mohamed Al Fayed, has experienced a jump in pre-tax losses of s3.7m in the 12 months to 31 December 2001.

Sales at the hotel fell to from EUR 57.7m to EUR 56m as a result of declining business in the luxury hotel market in the wake of the September 11 attacks.

The Paris Ritz, the exclusive hotel owned by Harrods boss Mohamed Al Fayed, has experienced a jump in pre-tax losses of s3.7m in the 12 months to 31 December 2001.

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