The Ritz-Carlton Hotel is the parent company to the luxury hotel chain, Ritz-Carlton Hotels. The company also has marketing agreements with Bulgari Hotels & Resorts and two privately owned hotels, The Ritz Hotel, London and The Hotel Ritz, Madrid. The first Ritz-Carlton Hotel was built in Boston in 1927. Today more than 60 properties in major cities and exclusive resort destinations in over 20 countries worldwide operate under the Ritz-Carlton flag. In 1983, the original hotel and the brand were sold to The Ritz-Carlton Hotel Company, based in Atlanta, which began expansion of the brand to other locations. The company grew to become the hospitality leader in the United States under the leadership of Horst Schulze. The Ritz-Carlton Hotel maintains a location in Lantana, Fla.