Fairmont Hotels & Resorts

Fairmont Hotels & Resorts

March 09, 2012 17:41 ET

Fairmont Hotels & Resorts to Acquire Fairmont Sonoma Mission Inn & Spa

- As Part of Global Growth Plans, Fairmont Supports New Acquisition Strategy -

TORONTO, ONTARIO--(Marketwire - March 9, 2012) - Fairmont Hotels & Resorts today announced that it has completed a transaction with Crescent Real Estate Equities Limited Partnership to acquire the Fairmont Sonoma Mission Inn & Spa. The global luxury hotel company has been managing the historic 228-room California wine country resort since 2002.

"We believe the timing is right to support strategic acquisition opportunities and fund future growth of our brand," said Jennifer Fox, President, Fairmont Hotels & Resorts.

"Our development team, through regional offices in Toronto, London, Zurich, Dubai, Singapore and Shanghai, has been actively seeking strategic expansion opportunities in a number of key locations throughout the United States as well as in Europe, the Middle East and Asia," continued Fox. "The markets are increasingly presenting very attractive opportunities and we want to ensure we are poised to take advantage and grow our luxury portfolio."

The global hotel brand marked its start in 1907 with the opening of the Fairmont San Francisco and over the last century has added a number of iconic hotels to its collection.

Fox stated, "We believe that acquiring, repositioning, and then securing long term management agreements when they are sold will allow us to more robustly grow our global portfolio of exceptional resorts and gateway city properties. With our strong presence in the California market, the historic home of the Fairmont brand, the purchase of the Fairmont Sonoma Mission Inn is an ideal demonstration of our strategy moving forward."

Renowned for natural mineral waters, unparalleled charm and gracious service, the Fairmont Sonoma Mission Inn & Spa is located 40 miles north of the San Francisco Golden Gate Bridge, in Sonoma Valley, the heart of Northern California's wine country. The resort recently announced 30 newly renovated signature Mission Suites along with a new Winemaker Suite. The new suites respect the Inn's mission style architecture and use rustic woods and wrought iron to capture the essence and beauty of Wine Country. Suites are highlighted by local artwork, entertainment and work desks with built-in smart media panels, and new spa-like bathrooms. A recipient of the AAA-Four Diamond, Mobil-Four Star Awards, and the lauded Michelin star (for Santé Dining Room) the resort consistently provides the country's finest European spa experience.

ABOUT FAIRMONT HOTELS & RESORTS

Fairmont Hotels & Resorts, which will arrive in destinations as diverse as Jaipur, Kyiv and Manila in 2012, is a celebrated collection of more than 60 luxury properties around the globe, including Shanghai's Fairmont Peace Hotel, The Plaza in New York, and Makkah Clock Royal Tower in the Kingdom of Saudi Arabia. The luxury brand's distinctive hotels offer a sense of heritage and sophistication, warm, engaging service and culturally rich experiences. A community and environmental leader, Fairmont is also recognized internationally for its responsible tourism practices and award-winning Green Partnership program. Fairmont is owned by FRHI Holdings Limited, a leading global hotel company with over 100 hotels under the Fairmont, Raffles, and Swissôtel brands. The company also manages Fairmont, Raffles and Swissôtel branded luxury private residences club, whole-ownership residences and serviced residences properties. For more information or reservations, please call 1-800-441-1414 or visit www.fairmont.com.

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