Small Businesses Ideas 069

Hotel Profits Book £3.9billion!
Sir Rocco Forte

Name: Sir Rocco Forte and family.

Age: Sir Rocco, 54yrs.

'Foolish' Idea: Hotels

How Idea was Launched:

The huge Forte family's hotel empire was started by Sir Rocco's father, Lord Forte. The first building he opened, wasn't a hotel, but a milk bar.

From that simple beginning arises the latest new hotel opening which is the £20million St David's hotel on Cardiff Bay, under the banner of RF Hotels. Manchester's first five-star hotel will also be built by RF Hotels.

The family's previous hotels business, was sold in 1996, only after a bitterly fought take-over, by Granada Group.

Earnings: Trust House Forte sold for £3.9billion. Sir Rocco and his family received £325million (before tax).

RF Hotels is too new to show returns on investments which so far have been £100million (by mid 1998).

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