Rocco Forte Hotels is preparing its Saudi Arabia debut with projects planned in Riyadh and the Red Sea, but the chairman declined to provide further details, saying discussions are still underway.
“We’ll have a hotel at the Red Sea project,” Forte, Chairman and CEO of Rocco Forte Hotels, told Arabian Business. “It’s part of our broader relationship with the PIF, which has strengthened our balance sheet and given us a higher profile around the world.”
The PIF, Saudi Arabia’s sovereign wealth fund, acquired a 49 per cent stake in Rocco Forte Hotels in 2023, its first investment in a European luxury hospitality group.
Forte declined to give further details about the planned Red Sea property or the company’s potential project in Riyadh, saying both remain under discussion and no timelines have been finalised.
“Until you sign something, you don’t talk about it,” he said.
He added that the partnership with the PIF remained unaffected by the fund’s recent decision to scale back foreign investments and focus on domestic projects.
“They’re very long-term, strategic investors,” Forte said. “They saw potential in us, not for short-term returns but to help us grow globally.”
Rocco Forte Hotels operates 15 properties in Europe, including Brown’s Hotel in London, Hotel de Russie in Rome and The Balmoral in Edinburgh, with projects under development in Milan and the Maldives.
The group has also signed an agreement with the Emirates Golf Society to promote its Verdura Golf & Spa Resort in Sicily to Gulf travellers.
Forte, who has relocated from the United Kingdom to Italy, said the company remains focused on family ownership and smaller, personalised hotels.
“Each hotel should be special in its own right,” he said. “We’re not interested in just planting flags.”
The Red Sea Project, developed by Red Sea Global, is part of Saudi Arabia’s Vision 2030 plan to diversify its economy and boost tourism.
Phase 1, running through 2025, will include 16 resorts across three islands and two inland sites, providing about 3,000 hotel keys, according to Red Sea Global. Shura Island will host 11 luxury hotels operated by brands including Four Seasons, Rosewood, Raffles, Fairmont, Grand Hyatt, EDITION and Jumeirah.
By the end of 2025, the developer plans to open 11 additional resorts at The Red Sea and 8 at AMAALA, bringing the total to 19 hotels that year. Full completion in 2030 is expected to deliver 50 hotels with 8,000 rooms and more than 1,000 residential properties across 22 islands and six inland sites.
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