Rocco Forte Hotels eyes European expansion with new partnership
Rocco Forte Hotels is partnering with investment firm Emerald Pine Capital as it looks to open new properties across Europe and the Middle East.A spokesperson said the deal was not an investment but the two would work together on any expansion in the regions going forward.
Its expansion could include further sites in the UK. Earlier this year Charles Forte, the brand’s director of development and son of founder Rocco, told The Caterer the group was looking to open a country house hotel in the UK to rival luxury properties like Coworth Park in Ascot or Le Manoir aux Quat’Saisons in Oxfordshrie.
He also said Rocco Forte Hotels was keen to open a second hotel in London but faced a competitive market. Its Brown’s hotel in Mayfair is aiming to grow its average daily rate from around £800-£900 to £1,000 amid a boom in demand for luxury hospitality in the city.
“There are very few pockets that we would actually look at between Knightsbridge [for a new hotel] and Mayfair, so those opportunities are very finite,” Charles said.
The group is also looking to bring its luxury serviced apartment brand, Rocco Forte House, to London to cater for guests seeking longer stays.
Charles said: "I am pleased to be able to announce our partnership with Emerald Pine Capital and I am confident that their years of experience and strong reputation within the financial world will further fortify our existing team and our expansionary efforts in Europe and beyond."
Emerald Pine Capital Capital was founded by Fabrizio Grena and Alessandro Ferrante, who worked together for several years at Goldman Sachs, and invests in real estate across Europe.
by Sophie Witts