Operations

plus

Rocco Forte Hotels, the family revenge

5 min reading time

Published on 04/04/06 - Updated on 17/03/22

It was a bad shock when the Forte family lost its hotel empire in a tough battle on the stock exchange. Hurt by the betrayal of a group of shareholders, Sir Rocco has since, with his family, been working to rebuild a group under his complete control, to make a grand re-entry into the international luxury hotel universe.

In ten years, Rocco Forte rebuilt a hotel group that is beginning to count. Today he heads a collection of 11 luxury hotels that will grow to 15 in 2008. Just a decade after he had to abandon the helm at Trusthouse Forte. Looking back: in 1996, Rocco Forte was up against Granada in a ferocious battle. At stake, the empire his father, Lord Charles, had built and that he had recently begun to direct. Eight hundred hotels, including the Le Méridien hotels, one thousand restaurants and nearly one hundred thousand employees worldwide. The harsh battle was lost when Irish investor Gerry Robinson chose to side with the British media giant. The resentment felt towards Robinson is intense. But this defeat leaves Rocco and his family with sub- stantial means – nearly 450 million euros – in exchange for their shares in the group. This war chest would let him restart from scratch.In the beginning, Rocco Forte was looking for organic growth opportunities: Le Méridien in 1996, the Savoy group’s dossier or part of the Ciga portfolio such as the Danieli, owned by Starwood Hotels. The group is now advancing cautiously. With just two management contracts at present – including the atypical Château de Bagnols – Rocco Forte Hotels could actively turn towards management to grow its revenue, today close to 200 million euros, in order to reach the goal of 350 million euros in 2010.Already in 1996, Rocco Forte attempted to buy the luxury chain Le Méridien back from Granada, but the effort was lost. Hotelier in spirit but not in practice, he launched himself into building his own luxury hotel group out of nothing: RF Hotels. A group bearing only the initials of its founder since Granada still owned the rights to the name Forte. The first acquisition...

This content is for subscribers only. You have 80% left to discover.

Every week, the HON team brings you an expert look at the world of hospitality.

By becoming a member, you will have access to a complete ecosystem: exclusive content, jobs, etc.

BECOME A MEMBER

Already a member ?

For further

Every week, the HON team brings you an expert look at the world of hospitality. By becoming a member, you will have access to a complete ecosystem: exclusive content, jobs, etc.

BECOME A MEMBER

Sign up to add topics in favorite. Sign up to add categories in favorite. Sign up to add content in favorite. Register for free to vote for the application.

Already signed up? Already signed up? Already signed up? Already registered?