Hotel Designs Industry News: Fairmont takes over St. Andrews

News - 3rd Jul 2006

Fairmont takes over St. Andrews

TORONTO, June 7, 2006 - Fairmont Hotels & Resorts is pleased to announce that it has entered into an agreement to manage the St Andrews Bay Golf Resort & Spa in Scotland. Apollo European Real Estate Fund II, L.P. will purchase the resort from Château Élan Hotels & Resorts, with financing from Bank of Scotland Corporate. Fairmont will assume management of the 209-room resort on July 1, 2006 under a long-term management contract and the property will be reflagged early Fall 2006. This latest acquisition expands Apollo's European investments in the hospitality sector and the hotel company's European presence, joining The Savoy, A Fairmont Hotel and the Fairmont Monte Carlo

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