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Members of FHR's design and construction team are onsite in Bermuda and are currently assessing the damage. FHR has extensive insurance coverage for both property damage and business interruption and currently estimates that it will incur costs of approximately $5 to $10 million, net of insurance recoveries. FHR is one of North America's leading owner/operators of luxury hotels and resorts. FHR's managed portfolio consists of 81 luxury and first-class properties with more than 31,000 guestrooms in Canada, the United States, Mexico, Bermuda, Barbados and the United Arab Emirates. |
Contact:
Fairmont Hotels & Resorts Inc. M. Jerry Patava Executive Vice President and Chief Financial Officer Tel: (416) 874-2450 [email protected] http://www.fairmont.com |