According to the Sunday Times, Sir Rocco Forte is in the middle of hard negociations with the owner of The Augustine Hotel in Prague, a Rocco Forte Hotels since 2009. If he does not agree on a raise in lease, Waldeck Capital said it might look for an other operator.
The British paper explains that Forte’s company, RF Hotels, which runs the Augustine hotel in the Czech capital, has been paying a much reduced rent since May after cutting a deal with the owner, Waldeck Capital, an investment firm. The compromise is set to expire at the end of next month and Waldeck wants to replace Forte. It cannot do so unless Forte fails to pay the rent or agrees to the change. RF Hotels has run the 101-bedroom property since 2009.“We are disappointed it has come to this point, but unless RF Hotels is able to pay a fair rent for the Augustine, we will have to look at alternative operators,” said Thomas Smit, who chairs Waldeck.
