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Article: Fairmont To Partner With Turnberry Associates At The Fairmont Turnberry Isle Resort & Club In Miami.
- Article from:
- PR Newswire
- Article date:
- December 16, 2005
CopyrightCOPYRIGHT 2005 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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- Agreement Includes Improved Long-term Management Contract and Renovation Plans -
TORONTO, Dec. 16 /PRNewswire-FirstCall/ -- Fairmont Hotels & Resorts Inc. ("Fairmont" or the "Company") (TSX/NYSE: FHR) today announced that Turnberry Associates will acquire The Fairmont Turnberry Isle Resort & Club. The resort will retain its name and continue to be managed by Fairmont under a new, enhanced long-term management contract. The transaction is expected to close by the end of the year.
As part of this new partnership, Turnberry Associates plans to invest significant capital in the resort to position the property as the premier golf and beach resort ...