NEW YORK HOTEL BUSINESS. has learned that RF Hotels is looking to expand its luxury hotel collection, with as many as 12 to 15 new European properties over the next few years. RF currently consists of six unique, luxury hotels, which it owns and manages.
Sir Rocco Forte, executive chairman of RF Hotels, said that the company is targeting Venice, Milan, Berlin, Frankfurt, Vienna, Prague and London for new additions to its portfolio.
I ll generally be looking to build from scratch or takeover an existing office building and convert it to a hotel. I d rather create new hotels. Now is not a good time to buy existing, established properties because they are selling at a premium, Forte said.
He also said that RF Hotels is working on constructing a resort in Sardinia, which will be located on 500 acres of beachfront property. In addition to a luxury hotel, the project will include a spa and two golf courses, he said.
Forte started RF Hotels in 1997, with the purchase of the Balmoral Hotel in Edinburgh, England. Prior to that, Forte was chairman/CEO of Forte Plc. (10/6/00) Shannon McMullen