Rocco Forte said that the investment “will include an element of primary equity which will accelerate the brand’s expansion in both existing and new global…
Sir Rocco Forte is increasing the pace of expansion of his luxury hotel group after selling a 49 per cent stake to Saudi Arabia’s sovereign wealth fund which values the business at £1.4 billion.
Rocco Forte Hotels (the group) is pleased to announce that the Public Investment Fund (PIF) has entered into a definitive agreement to acquire a significant minority stake in the group. The Forte family will retain majority ownership and control. The arrangement sees the Italian entity CDPE Investimenti (CDPEI) selling its entire stake.