According to various reports in Italian media, The Public Investment Fund of Saudi Arabia, chaired by HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, has bought a stake in Rocco Forte Hotels.
After “months of negotiations and due diligence, the sale of 49 per cent of the luxury hotels would be close to being signed for a valuation of 1.5 billion euros, including debts”. Sir Rocco Forte will still control the majority stake of 51 per cent.
The group which was founded in 1996 by Sir Rocco Forte manages luxury hotels and resorts, most of which are in Italy – Hotel de Russie in Rome, Hotel de la Ville in Rome, Verdura Resort in Catania, The Savoy in Florence, Hotel Villa Igiea in Palermo, Masseria Torre Maizza in Puglia. In 2025, Rocco Forte Hotels will open The Carlton Hotel in Milan.
Besides Italy which is its largest market, Rocco Forte Hotels also has a hotel in London and Scotland (Edinburgh) as well as in Germany (Munich, Berlin). Rocco Forte Hotels also owns several hotels such as Brown’s Hotel in London or The Balmoral in Edinburgh, but for the great majority of the properties, it is only a third-party operator.
