The Board of Rocco Forte Hotels has decided to follow the well-established business model of separating the ownership of their hotels from the management of the businesses by offering for sale The Lowry Hotel in Manchester and The St David’s Hotel & Spa, Cardiff. None of the company’s other hotels will be affected by these sales.
Both hotels will be offered with long-term management contracts with Rocco Forte Hotels, one of the world’s leading luxury hotel brands.
Investors will be offered the unique opportunity to purchase one, or both of, these award-winning hotels which will continue to be part of Rocco Forte Hotels brand. The branding and management expertise of Rocco Forte Hotels will ensure that these hotels will continue to develop as leaders in their markets.
Announcing the plans, Sir Rocco Forte, Chairman & Chief Executive of Rocco Forte Hotels, said: “These sale and manage-back transactions will allow us to continue to build on the success of The Lowry Hotel and The St David’s Hotel & Spa, while freeing up funds for our continued expansion on mainland Europe.”
The hotels will be marketed in the New Year and the proposed sales are being handled by Christie & Co.