Luxury hotel group, Rocco Forte Hotels (RFH), has acquired Le Richemond hotel in Geneva, Switzerland.

RFH paid £43m for the 98-bedroom hotel. It is the fifth new hotel project that the chain has undertaken in the last twelve months and the hotel will now undergo a major refurbishment.

The deal includes a number of adjacent buildings that will be used to extend the hotel to 125 rooms and suites by 2005.

Rocco Forte, founder and owner of RFH, said: “Le Richemond is one of the greatest hotels in the world. I am particularly pleased to return to Geneva as the old Forte company was previously represented here.”

The acquisition of Le Richemond is the latest addition to RFH’s expanding portfolio.

Last year, the group bought Brown’s in London and took over the management of the Château de Bagnols in Beaujolais.

Since the beginning of the year, RFH has also started work on new-build hotels in Frankfurt and Rome, while it also plans to open its first golf and spa resort on the island of Sicily, Italy.

Founded in 1996, RFH now operates 10 hotels in Europe, with three more openings planned by 2007.