Richard Caring Nears Deal to Sell UK Hospitality Stake to Abu Dhabi

Richard Caring is in advanced talks to sell a significant stake in his UK hospitality empire, including the Ivy Collection and Mayfair private members’ clubs such as Annabel’s, George, and Harry’s Bar, to the International Holding Company (IHC), controlled by Abu Dhabi royal Sheikh Tahnoon bin Zayed al-Nahyan. The potential deal, which could exceed £1 billion, is centered around Troia, the entity behind the Ivy Collection with over 40 restaurants across the UK and Ireland, and may expand to include other assets like Caring’s casual dining chain Bill’s and Caprice Holdings. This sale would provide Caring with capital to expand his hospitality brands internationally. IHC, the most valuable company on Abu Dhabi’s stock exchange, already holds various hospitality investments, including a stake in Greek luxury resort chain Nammos. Troia has seen rising revenues and profits, with turnover increasing to £314.7 million in 2023 and adjusted EBITDA reaching £57.5 million. Despite ongoing negotiations, sources emphasize that no deal is guaranteed, and discussions over price and included assets remain fluid.