Rocco Forte Hotels is reportedly considering selling the 188-room The Balmoral, located in Edinburgh, Scotland, and the 165-room The Lowry Hotel, located in Manchester, England.
The Sunday Times reported this weekend that “industry sources” said Sir Rocco Forte is considering selling the properties for about £100 million (US$152 million).
Rocco Forte Hotels, London, is dealing with financial difficulties, having posted losses over the past two fiscal years and a total net debt of €108 million (US$137 million). The company recently exited the 281-room Rocco Forte Hotel Abu Dhabi, its only hotel in the Middle East.