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There have been some quiet murmurings that the Ritz Paris may be sold to Qatari investors. But according to Women’s Wear Daily, the rumors are “unfounded” and Mohamed Al-Fayed, the iconic businessman and hotelier, has no plans to sell the property, which is undergoing a substantial renovation and has been closed since last fall. There is plenty of reason to believe that the sale could happen, however: Qatari investors have been purchasing hotels across Europe. The swank Hotel Martinez in Cannes was purchased last year by Katara Hospitality, formerly known as Qatar National Hotels Company, along with the Hotel du Louvre in Paris.

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