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of The Fairmont Royal Pavilion and The Fairmont Glitter Bay in Barbados |
TORONTO, Jan. 12, 2001 - Fairmont Hotels & Resorts today announced
that its parent company has acquired the outstanding 51 percent ownership
of The Fairmont Royal Pavilion and The Fairmont Glitter Bay in Barbados
from Michael Pemberton, majority shareholder of Pemberton Princess Hotels,
Ltd.
The 75-room, oceanfront Fairmont Royal Pavilion is set amidst an eleven-acre, private oasis. The 67-room, beachfront Fairmont Glitter Bay is located on the nineteen-acre former estate of Sir Edward Cunard. Both resorts are located on the West Coast of Barbados in the parish of St. James. This announcement comes shortly after the company�s signing of a letter
of intent to manage a new $140 million, 400-room resort in Puerto Rico,
and consolidates Fairmont�s anchor position in the important Caribbean
market.
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Fairmont Hotels & Resorts http://www.fairmont.com |
Also See | Fairmont Hotels & Resorts Invests $3 million Equity in LifeCast, a Marketer of Luxury Brands / Dec 2000 |