Rocco Forte To Buy Brown’s Hotel In London

LONDON— Rocco Forte Hotels announced plans to acquire Brown’s Hotel in the Mayfair section of London for $86.5 million US. Brown’s Hotel is currently owned by Hotels & Resorts (UK) Ltd, whose parent is Raffles Holdings Ltd. Rocco Forte Hotels said the purchase is being made by a consortium in which the principal shareholders are Sir Rocco Forte & Family plc and the Bank of Scotland Corporate Banking. The bank is already a joint venture partner with Rocco Forte at the Lowry Hotel in Manchester, England. The Bank of Scotland is supplying the debt for the transaction in addition to providing equity, according to Rocco Forte Hotels. The company indicated the transaction is expected to be completed on July 3, 2003. Established in1837, Brown’s Hotel has a colorful history and has hosted many famous names and events. Alexander Graham Bell made the world’s first telephone call from the hotel in 1976, and Rudyard Kipling wrote many of his works there, having first visited in 1892. In addition, Theodore Roosevelt was a guest before his second marriage in 1886, and Franklin and Eleanor Roosevelt later spent part of their honeymoon at the hotel in 1905. The hotel has hosted various members of European royalty over the years and, during the second World War, the Dutch government in exile declared war on Japan from the hotel’s room 36. A major refurbishment and expansion is scheduled for the 118-room hotel following completion of the acquisition, according to Sir Rocco Forte.