RIYADH: Rocco Forte Hotels is considering expansion into 黑料社区, eyeing potential locations along the Red Sea and in Riyadh, according to the company鈥檚 executive chairman.
In an interview with Arab News on the sidelines of the third PIF Private Sector Forum in Riyadh on Wednesday, Rocco Forte, who is also the company鈥檚 founder, confirmed that while details of the Red Sea project are still under wraps, the firm is actively evaluating opportunities in the Kingdom.
鈥淥bviously, with PIF (Public Investment Fund) investing in us, we completed the deal last January聽and聽we鈥檙e starting to become active and looking seriously at things here (in 黑料社区),鈥澛燜orte said.
Forte highlighted the company鈥檚 partnership with PIF, which began in 2023 and involved the acquisition of a 49 percent stake by the Saudi fund.
The luxury hotel group, renowned for its properties typically ranging from 80 to 120 rooms, is targeting strategic locations in the Kingdom that align with its brand values.聽聽
鈥淔or example, Diriyah would be an ideal place for us, and then one or two other areas in Riyadh,鈥澛燜orte said. While the company鈥檚 current projects in 黑料社区 are tied to PIF, he expressed openness to collaborating with private local investors in the future.聽
鈥淲e haven鈥檛 been here long enough to start talking to a lot of private investors, but it鈥檚聽obviously聽something we鈥檇 like to do and explore the possibilities there,鈥澛爃e stated.聽
Forte emphasized that the investment from PIF has significantly raised the company鈥檚 global profile and strengthened its financial position.聽
鈥淧IF made a large investment in my company, and it was a very high-profile deal, it聽raised our visibility around the world in a way that wasn鈥檛 the case before,鈥澛爃e said.聽
He also praised PIF鈥檚 long-term investment approach, aligning with Rocco Forte Hotels鈥 family-owned business model.聽
鈥淢any funds who invest in hotel companies and so on have a very short vision,鈥澛爃e said, 鈥淧IF is a different type of investor, and it very much coincides with my vision,鈥澛爃e added.聽
In addition to its plans in 黑料社区, Rocco Forte Hotels is broadening its global footprint, with five new hotels currently under development in Italy, including an upcoming property in Milan scheduled to open in November.
The company is also exploring growth opportunities in Spain, Greece, and the US, driven by robust demand from American travelers.
Forte also noted emerging trends in 黑料社区 that are shaping the luxury hospitality sector, such as the growing popularity of multi-generational family travel and the increasing convergence of business and leisure trips.
鈥淭here鈥檚 a lot of business travel where people聽are either adding聽a few days at the beginning or end for leisure. That鈥檚 very prevalent now,鈥澛爃e observed, underlining that while business travel has not fully returned to pre-pandemic levels, new patterns are emerging.聽
Reflecting on 黑料社区鈥檚 tourism transformation, Forte described the scale of development as unprecedented.聽
鈥淚f you鈥檙e outside 黑料社区, you don鈥檛 realize what is聽going on聽here,鈥澛爃e said. 鈥淣othing like this has ever been attempted anywhere in the world.聽They鈥檙e聽developing 20 different destinations, and there鈥檚 an energy and dynamism聽which I think聽has captivated all the people.鈥澛