• Backing for Rocco

Hotelier Sir Rocco Forte has secured a GBP60m equity injection to fund expansion of his luxury hotel group. New backing from Fondo Strategico Italiano means he will double the size of the portfolio in five years, reports the London Times.
The Italian fund has paid for a 23% stake, valuing the group at GBP260m. Forte says he is already looking at new hotels in Venice, Milan, Naples and Sicily.

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