Saudi Arabia’s Public Investment Fund’s (PIF) acquisition of a significant stake in Rocco Forte Hotels is set to accelerate the luxury hotel chain’s expansion across Europe.
- The investment coincides with a positive financial growth for the Forte group, with revenues climbing by 6.3% last year.
- Rocco Forte Hotels plans to open five new properties, expanding its presence in key European markets, reinforcing ties with Italy.
- Despite the PIF’s investment, the Forte family remains in control, maintaining a majority stake in the hotel company.
- The expansion plan includes new hotels in Milan, Sardinia, Noto, and Naples, aligning with the group’s strategy to lead in city hotel markets.
Saudi Arabia’s Public Investment Fund has acquired a substantial stake in Rocco Forte Hotels, marking a significant step in the company’s plans for expansion across Europe. This move is expected to drive growth and development within the luxury hotel sector.
Financial reports reveal that the Forte group experienced a revenue increase of 6.3% over the last year, reaching a total of £311.9 million. UK revenues rose to £67.6 million, while overseas revenues climbed to £223.4 million. Such financial success sets a robust foundation for the group’s future endeavours.
Rocco Forte Hotels has announced plans to launch five new hotel properties, further establishing its footprint in key European locations. The expansion will include two new facilities in Milan, as well as hotels in Porto Cervo, Sardinia, Noto, and Naples. This development strategy reflects the group’s commitment to enhancing its presence in cities central to its brand.
Despite the Saudi investment, control of the company remains with the founding Forte family. They continue to hold a majority stake, ensuring that the family’s vision and leadership remain integral to the company’s operations and future.
The addition of these new hotels is aligned with Rocco Forte Hotels’ objective to maintain leadership in city hotel markets, leveraging Sir Rocco Forte’s familial connections to Italy as a strategic advantage. The moves are seen as a reinforcement of the group’s unique positioning in the luxury hotel industry.
Rocco Forte Hotels’ strategic expansion and sustained familial control underscore its ambitious growth and resilience in the luxury market.
