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The Ritz: Luxury London hotel makes fifth consecutive loss
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News Archives - City AM
The Ritz: Luxury London hotel makes fifth consecutive lossThe Ritz said an increase in guests helped boost its turnover in 2024.
(Photo by Dan Kitwood/Getty Images)The Ritz hotel in London has made a loss for the fifth year in a row despite its turnover jumping in 2024, it has been revealed.
The five-star hotel has reported a pre-tax loss of almost £3m for its latest financial year, down from the £10m loss it posted for 2023.
The last time the hotel reported a pre-tax profit was the £2.4m it achieved in 2019.
The figure was down from the £207,187 pre-tax profit the hotel achieved in 2023.