{"id":89113,"date":"2024-08-28T00:00:00","date_gmt":"2024-08-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/08\/28\/pif-portfolio-hotel-group-gets-a-mention\/"},"modified":"2024-08-28T00:00:00","modified_gmt":"2024-08-28T00:00:00","slug":"pif-portfolio-hotel-group-gets-a-mention","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/08\/28\/pif-portfolio-hotel-group-gets-a-mention\/","title":{"rendered":"PIF portfolio hotel group gets a mention"},"content":{"rendered":"

PIF portfolio hotel group Rocco Forte Hotels saw its pre-tax net income fall by nearly half <\/strong>y-o-y at the end of April 2024 to GBP 158 mn<\/strong>, according to recent filings (pdf)<\/a>. City AM<\/a> attributes the drop to costs worth GBP 16.7 mn associated with the transaction that saw the Public Investment Fund acquire a 49% stake in the group last year, valuing the group at GBP 1.2 bn<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

The PIF bought a 49% stake in Rocco Forte Hotels in December 2023<\/p>\n","protected":false},"author":1,"featured_media":89114,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2561],"tags":[10,154,2423,229],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-89113","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-saudi-in-the-news","tag-enterpriseam-ksa","tag-pif","tag-rocco-forte-hotels","tag-saudi-in-the-news","wpautop","entry"],"acf":{"mongo_id":"aaafbdf2-daf4-4376-8606-23880ee1c95a","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/2439.jpg","photo_position":"above","homepage_title":"","full_issue_title":"PIF portfolio hotel gets ink for lower bottom line","related_issue":[89102],"teaser":"The PIF bought a 49% stake in Rocco Forte Hotels in December 2023","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.15acc533-5d80-4e37-ba40-dc457f2eafb2.mp3"},"yoast_head":"\nPIF portfolio hotel group gets a mention - 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