Rocco Forte and Oetker out of Abu Dhabi

London. Last October, the owner of the Rocco Forte Augustine in Prague accused its operator of significant underperformance: Now, the contract is terminated and on the 31st of January, 2013, Rocco Forte Hotels will exit the unique cloister ensemble in the middle of Prague Old Town. The new operator, a former US brand, is taking over seamlessly. However, Rocco Forte's problems do not end with this; on the contrary: In some locations, the group stands under intense financial pressure, subprime locations are starting to take revenge and expansion plans are dragging. The reason for the financial problems is always the same one: Too high leases combined with massive hubris. Sir Rocco's hubris has not yet suffered from it. During an interview with a German newspaper, he instructed his Berlin colleagues directly word-for-word: "Hoteliers are a little bit stupid."