PIF buys 49% stake in Rocco Forte Hotels for £588 million
Destination Sport buys
The Mike Burton Group
Saudi Arabia's Public Investment Fund's (PIF) significant investment in Rocco Forte Hotels will accelerate the family-run luxury group's acceleration into new and existing markets.
The founding Forte family will remain at the helm of the group, which operates hotels, resorts and private villas.
The deal marks an exit for Italian state-backed CDPE Investimenti, which owned a 23% shareholding. It invested EUR 80 million in the hotel group in 2015.
Attraction World Group (ATW) marks the first deal for Montana World Investments, a fund dedicated to shaping the future of travel technology.
The theme park and attractions-ticketing specialist will use the funding to expand its offer to loyalty programmes, online travel agents, airlines, and rail. It will also globalise its direct-to-consumer channels, such as FloridaTix.
Highmore Group backed the deal with additional investors from the Netherlands and the United States.
Destination Sport strengthened its offer with the addition of The Mike Burton Group, which delivers rights-holder branded supporter travel to rugby and other sporting events.
The deal strengthens the acquiror's position as a rugby specialist that already manages team and supporter travel for Scottish Rugby, domestic teams, schools and amateur clubs.
Destination Sport is owned by Saudi-backed Portman Travel Group, which builds luxury, business, and travel groups through acquisition.
Montana World Investment acquires Attraction World Group
