Public Investment Fund (PIF) has recently made a significant investment in Rocco Forte Hotels, signaling their confidence in the international hospitality and tourism industries. Turqi Al Nowaiser, Deputy Governor and Head of International Investments Division at PIF, expressed their optimism in the commercial opportunity and strength of these sectors, which have shown remarkable resilience. As active long-term investors, PIF aims to strategically invest in promising sectors to achieve sustainable returns globally.
The investment by PIF comes at a time when Saudi Arabia is undergoing transformation in its tourism, hospitality, and airline sectors. The country is launching mega-destinations and hotel projects to increase capacity and attract inward tourism. Rather than simply adding more hotels, Saudi Arabia is focusing on creating unique and signature experiences for visitors.
Following the investment, Sir Rocco Forte will continue to serve as the Executive Chairman of Rocco Forte Hotels, with Olga Polizzi remaining as Deputy Chairman. The deal has been met with enthusiasm, with Forte expressing a positive relationship with PIF and sharing the same vision for the future strategy of the group.
This strategic investment and partnership between PIF and Rocco Forte Hotels is poised to bring about significant developments in the international hospitality industry, showcasing the potential for growth and transformation in the sector.
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