as a symbol or embodiment of high quality or superiority, 1910 (Ritzian, adj., is attested by 1908), a reference to the luxurious Ritz hotels in New York, London, Paris, etc., commemorating Swiss hotelier César Ritz (1850-1918). To put on the ritz "assume an air of superiority" is recorded from 1926. A verb ritz "to behave haughtily" is recorded from 1911. As an adjective by 1926.
-y 2
adjective suffix, "full of or characterized by," from Old English -ig, from Proto-Germanic *-iga- (source also of Dutch, Danish, German -ig, Gothic -egs), from PIE -(i)ko-, adjectival suffix, cognate with elements in Greek -ikos, Latin -icus (see -ic). Originally added to nouns in Old English; used from 13c. with verbs, and by 15c. even with other adjectives (for example crispy). Adjectives such as hugy, vasty are artificial words that exist for the sake of poetical metrics.