Today’s news in brief – 5/12/23
Rocco Forte Hotels has announced a significant minority stake acquisition by the Saudi Public Investment Fund (PIF), with the Forte family retaining majority ownership. The Italian entity CDPE Investimenti (CDPEI) has sold its entire stake. The PIF’s investment, including primary equity, aims to accelerate the brand’s expansion. Sir Rocco Forte remains executive chairman, and Olga Polizzi as deputy chairman. The Forte family will continue holding key roles, expressing optimism about the partnership and thanking CDPEI for the past eight successful years. Currently, Rocco Forte owns iconic hotels such as the Balmoral Hotel in Scotland and Brown’s Hotel in London.
Global hotel management company, Valor Hospitality, is overseeing a £16.4m property improvement programme, renovating 1,331 rooms across six Hilton properties in the UK. The renovation programme includes hotels in Manchester, Leeds, Chester, Birmingham, Glasgow, and Bristol. Valor Hospitality aims to complete all room renovations by September 2024, emphasising its commitment to providing the best guest experience. The company collaborates with Hilton and ABDA Design to modernise rooms, creating a homely atmosphere with soft colours, warm lighting, and adaptable spaces for dining, working, or relaxing.
Hybrid accommodation brand Generator reports “record-breaking” revenues in Q3 2023, reflecting a 17% year-to-date increase and a 28% increase in EBITDA. Generator sees this as its most successful year to date, attributing success to the post-pandemic return of the hybrid accommodation model and growing demand from Millennials, Gen Z, and family travellers. Established in 1995, Generator has a diverse portfolio across major cities globally. CEO Alastair Thomann attributes the success to the brand’s resilience and a loyal Gen Z and Millennial guest mix.
Hotel Indigo Coventry has appointed Michael Lyons as the new general manager ahead of its early 2023 opening after a multi-million-pound project completion. Lyons, with 36 years of experience, expresses excitement about making Hotel Indigo Coventry the best place to stay, drink, eat, and relax. Mark Lee joins as food and beverage manager, bringing experience from Lovely Pubs and the NEC Groups. Marek Jani becomes the head chef for Cogs Restaurant and Bar, bringing expertise from branded hotels and boutique establishments. The appointments are expected to contribute to the success of Hotel Indigo Coventry.
