Saudi Arabia's PIF Acquires 49% Stake in Rocco Forte Hotels

The £1.2bn deal is part of Saudi Arabia's ongoing UK investment drive, with plans to finance the luxury hotel group's expansion into the Middle East.

Saudi Arabia's Public Investment Fund (PIF) has acquired a 49% stake in Rocco Forte Hotels, a luxury hotel group that owns the Balmoral Hotel in Edinburgh and Brown’s in London.
The deal values the hotel group at around £1.2bn and is part of Saudi Arabia's ongoing investment in Britain, which recently included a 10% stake in Heathrow Airport.
Rocco Forte and his sister Olga Polizzi will retain a 51% stake in the company and remain as executive chairman and deputy chairman respectively.
The investment is expected to help finance Rocco Forte Hotels' global expansion plans, including a push into the Middle East.
Rocco Forte Hotels, founded in 1996, currently owns 14 hotels and is expected to double in size over the next five years.