Category: Rocco
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Rocco Forte plans five new hotels as Saudis invest £1.4bn in luxury chain
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Sir Rocco Forte is set to develop five new luxury hotels in Europe after Saudi Arabia’s Public Investment Fund acquired a 49% stake in Rocco Forte Hotels, valuing the company at £1.4bn. The investment has boosted the hotel group’s expansion ambitions, but has also impacted the profitability of the wider…