Fairmont acquires Californian spa resort
Fairmont Hotels and Resorts (FHR) has acquired the Fairmont Sonoma Mission Inn and Spa in Sonoma, California, US, from Texas-based Crescent Real Estate Equities for an undisclosed sum.
FHR has been managing the historic 228-bedroom California wine country resort since 2002. Facilities include a Willow Stream Spa, the Michelin-starred Santé restaurant and a championship-standard golf course.
"We believe the timing is right to support strategic acquisition opportunities and fund future growth of our brand," said Jennifer Fox, FHR's president.
"Our development team, through regional offices across the world, has been actively seeking strategic expansion opportunities in a number of key locations throughout the US, as well as in Europe, the Middle East and Asia.
"The markets are increasingly presenting very attractive opportunities and we want to ensure we are poised to take advantage and grow our luxury portfolio."
"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."
Fairmont currently operates more than 60 luxury hotels around the globe. It recently announced that it will be opening new resorts in Jaipur, India; Kiev, Ukraine; and Manila, Philippines, during 2012.
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