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Rocco Forte is to follow the now well established hotel business model of realising the value of owned properties and attracting investors in. Up for sale is the successful Lowry Hotel in Manchester (pictured above) and the St David's Hotel & Spa, Cardiff (pictured below). None of the company's other properties 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.
Announcing the plans Rocco Forte Hotels chairman and chief executive Sir Rocco Forte 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 in mainland Europe.”
The hotels will be marketed in the New Year and the proposed sales are being handled by Christie & Co.