PIF to acquire minority stake in Rocco Forte Hotel

Tuesday, December 5, 2023

Rocco Forte Hotels has made a significant announcement regarding the acquisition of a substantial minority stake by the Public Investment Fund (PIF). In a definitive agreement, the PIF is set to acquire this minority interest, marking a strategic move that aligns with the hotel group’s growth ambitions.

Under the terms of the agreement, the Forte family, led by Sir Rocco Forte, will retain majority ownership and control of Rocco Forte Hotels. The transaction involves the Italian entity CDPE Investimenti (CDPEI) selling its entire stake in the hotel group, paving the way for PIF’s entry into the ownership structure.

Notably, PIF’s investment will encompass a primary equity component designed to expedite the expansion of the Rocco Forte Hotels brand. The focus will be on both existing and new global markets, leveraging the group’s established track record of growth and development. Over recent years, Rocco Forte Hotels has demonstrated its commitment to expansion with the opening or commitment to eight new properties, showcasing a dedication to evolving and meeting the demands of the dynamic hospitality industry.

Crucially, this move ensures continuity in leadership within Rocco Forte Hotels. Sir Rocco Forte will maintain his role as Executive Chairman, supported by Deputy Chairman Olga Polizzi. Additionally, key family members, including Charles Forte, Lydia Forte, and Irene Forte, will retain significant roles in the business, emphasizing the commitment to a seamless transition.

While the agreement signals a strategic alignment for both parties, the completion of the transaction is contingent on regulatory approval. This regulatory step underscores the importance of adherence to legal and industry standards in shaping the future of this partnership. Once approved, the partnership between Rocco Forte Hotels and the Public Investment Fund is poised to reshape the landscape of the hospitality industry, bringing fresh investment and strategic focus to the acclaimed hotel group.

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