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Fairmont Hotels Parent Company, Canadian Pacific Hotels, 
Acquires Control of the Kea Lani Resort in Wailea, Maui 
Toronto, Canada, February 1, 2001 � Fairmont Hotels & Resorts today announced that its parent company, Canadian Pacific Hotels, has acquired control of the renowned Kea Lani Resort in Wailea, Maui from Kea Lani Limited Partnership. The intention is to re-flag the property �The Fairmont Kea Lani Maui� in the second quarter of 2001. 

Charles M. Sweeney, Chairman of Trinity Investment Trust L.L.C., managing general partner of the Kea Lani Limited Partnership said, �We have had interest from numerous groups for the purchase of the Kea Lani. As Hawaii�s most successful independent resort, its luxury all-suite and villa concept has won a loyal following of guests in the past 10 years. Our success has been largely due to dedicated employees. We can think of no better team and no better hotel to introduce a new brand to the islands.� Mr. Sweeney is the original developer of the Kea Lani and his management company, Landmark Hotels, has operated the resort since its opening in December 1991.

Known as the island�s only all-suite luxury oceanfront resort, the hotel is situated on Polo Beach in the world-class, master-planned destination of Wailea, on the Southwestern coast of Maui.  With 413 one-bedroom suites and 37 private beachfront villas, the 22-acre hotel offers a full-service spa and fitness center, 30,000 square feet of function space, three swimming pools, a 140 foot water slide, four restaurants, a year-round children�s program and full wedding coordination services.  The Kea Lani is located close to Wailea�s three championship 18-hole, par 72 golf courses and 14 tennis courts, as well as boutique shopping.  A full activities program at the hotel offers snorkeling, sailing, kayaking, windsurfing, and island-wide excursions.

The Kea Lani Resort will be Fairmont�s first resort in the Pacific, giving the luxury brand a presence in one of the most coveted travel destinations in the world. �Fairmont�s entry into the Hawaiian Islands represents a significant step in growing our resort portfolio and diversifying the areas in which we operate,� said William R. Fatt, chairman and chief executive officer of Fairmont Hotels & Resorts.  � The Kea Lani Resort, one of Maui�s most easily recognized symbols of excellence is a natural fit with Fairmont�s award-winning resorts such as The Fairmont Scottsdale Princess and The Fairmont Chateau Whistler which enjoy unrivaled prominence in the North American and international travel markets.�

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 the purchase of two luxury hotels in Barbados, the Fairmont Royal Pavilion and Fairmont Glitter Bay.  Upon completion of this sale, Fairmont Hotels & Resorts� expands its collection to 38 properties in the United States, Canada, Mexico, Bermuda and the Caribbean 

Fairmont Hotels & Resorts is the largest operator of luxury hotels and resorts in North America, with a unique collection of world-class resorts and city centre hotels that enjoy unrivalled prominence in the communities where they are located.  

 
 

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Contact:
Ann Layton
Fairmont Hotels & Resorts  
416-874-2420
[email protected]
Glynis Esmail
The Landmark Hotels Group
650-992-3860
[email protected]

Also See Value Enhancement Fund IV, L.P. Purchases the 636 Room Doubletree National Airport in Arlington, Virginia / Feb 2001


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