Indian firm in talks to buy Ritz-Carlton
Name of the historic Back Bay hotel would change if deal is done
By Thomas C. Palmer Jr., Globe Staff | September 15, 2006
The owners of the venerable Ritz-Carlton Boston hotel, temporary home to royalty and the rich on the Public Garden for 79 years, are negotiating to sell to Taj Hotels Resorts and Palaces, a luxury chain based in India, according to an executive who was briefed on the talks.
The Ritz-Carlton would lose its name if a sale to Taj were completed, the executive said. It's not known what the new name of the hotel would be if Taj bought it. It is the longest continuously operated Ritz-Carlton hotel in the United States.
The Arlington Street Ritz is owned by Millennium Partners of New York, which also owns the newer Ritz-Carlton near the Boston Common. Millennium declined to comment, and a spokeswoman for the Ritz declined to address a possible sale.
But the executive said Taj is expected to add the Boston hotel to its diamond-studded lineup soon. Taj owns 75 hotels, including some of the world's more posh resting stops for the rich: the Taj Mahal Palace & Tower in Mumbai, also known as Bombay, 51 Buckingham Gate in London, and the Pierre in New York .
The Arlington Street Ritz-Carlton, with its famous bar -- and until it closed early in 2005, also a famous restaurant -- has hosted celebrity guests ranging from Winston Churchill and John F. Kennedy to Chuck Norris and Leslie Uggams.
Millennium bought the Ritz-Carlton Boston, long the grande dame of the city's luxury hotels, in 1999 for $122 million.
The Ritz-Carlton opened in Boston in 1927, built by Edward Wyner. In 1964, Wyner's family sold it to Cabot, Cabot & Forbes, then a prominent real estate company in Boston, and Cabot sold it to Gerald W. Blakeley Jr., the company's chairman, in 1981.
An 18-story addition with about 80 rooms opened in 1981, after years of legal battles with Back Bay residents and Public Garden defenders.
The hotel currently has 275 rooms.
The property changed hands several times before being bought by Millennium. The purchase enabled Millennium to use the eminent Ritz-Carlton name for its new hotel on the other side of the Public Garden and Common. The Ritz-Carlton Boston Common is part of the Millennium Place development, which opened in 2001.
The hotel underwent a $30 million renovation in 2001, the first in 17 years, and reopened in 2002.
The first Ritz Hotel was built in 1898 in Paris by Caesar Ritz, who formed the Ritz-Carlton company after buying the Carlton House in London early in the last century.
Ritz-Carlton hotels existed in other North American cities, but only Boston's survived the Depression in the 1930s.
Thomas C. Palmer Jr. can be reached at
tpalmer@globe.com.