Fairmont Hotels & Resorts

Fairmont Hotels & Resorts

February 01, 2007 09:40 ET

Fairmont Hotels & Resorts Raises Second Flag in Cairo

TORONTO, ONTARIO--(CCNMatthews - Feb. 1, 2007) - Fairmont Hotels & Resorts announced today that it will manage Fairmont Heliopolis, Cairo a new hotel scheduled to open summer 2007. Fairmont Heliopolis will encompass 235 rooms, extensive conference facilities, spa, atrium garden and dining outlets. The property is located in the central Heliopolis area and 10 minutes from the international airport.

In addition, the company has also assumed management of an adjacent hotel to the project. Formally known as the Sheraton Heliopolis, Fairmont will operate this 588-room property under the name Hotel Heliopolis prior to an extensive renovation period, which will include rooms, public areas and the building's facade. A third phase, to be completed at a later date, will consist of branded residences.

Project partners include Gulf - Egypt for Hotels & Tourism (GEHT); United Real Estate Co. (URC), one of Kuwait's largest real estate companies specializing in estate investment, property development and commercial, hospitality and entertainment property management in and outside Kuwait; and Kuwait Projects Company (KIPCO), Kuwait's largest private sector company with major activities in financial services, media & telecommunications, management & advisory, real estate and industry throughout the Middle East and North Africa.

The Fairmont Heliopolis will be the company's second flag in the city, joining Fairmont Nile City, currently under construction and set to open early 2008.

"We are pleased to offer our guests a second destination in Cairo, an important business and tourism destination in Egypt," said William R. Fatt, Fairmont's Chief Executive Officer. "This new property reinforces our expansion in the region and demonstrates our commitment to working with key partners to develop world-class properties and build upon our brand's global strength."

The owners look forward to revitalizing the community through this development project and selected the Fairmont brand based on its demonstrated record in renovating and managing some of the world's most iconic properties.

Additional Fairmont locations in the region include The Fairmont Dubai; the company will also reflag four hotels in Kenya (The Norfolk Hotel in Nairobi, the Mount Kenya Safari Club, the Ark and the Mara Safari Club) following $35 million in phased enhancements later this year. Future developments include Fairmont Palm Island and the Fairmont Palm Residences (2008), a second, 400-room property on the outer crescent of The Palm (2009), Fairmont Abu Dhabi Resort & Villas (2009) and Fairmont Zimbali, South Africa (2009).

Featuring a collection of fabled castles, secluded lodges, storied meeting places and modern retreats, Fairmont Hotels & Resorts opens the doors to some of the world's most celebrated addresses. With locations throughout ten countries, our 50 distinctive hotels - including The Fairmont San Francisco, The Fairmont Banff Springs and London's Savoy - promise travelers rich experiences and lasting memories in unparalleled settings. Committed to growing its portfolio of world-class hotels, Fairmont anticipates the 2007 re-opening of New York's famed Plaza Hotel. Fairmont Raffles Holdings International owns and operates over 120 hotels worldwide under the Fairmont, Raffles, Swissotel and Delta brands, as well as vacation ownership properties managed by Fairmont Heritage Place. For more information or reservations, please call 1-800-441-1414 or visit www.fairmont.com

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