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Article: Fairmont And Apollo Partner On Scotland's St Andrews Bay Golf Resort & Spa.
- Article from:
- PR Newswire
- Article date:
- June 7, 2006
CopyrightCOPYRIGHT 2006 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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TORONTO, June 7 /PRNewswire/ -- Fairmont Hotels & Resorts is pleased to announce that it has entered into an agreement to manage the St Andrews Bay Golf Resort & Spa in Scotland. Apollo European Real Estate Fund II, L.P. will purchase the resort from Chateau Elan Hotels & Resorts, with financing from Bank of Scotland Corporate. Fairmont will assume management of the 209-room resort on July 1, 2006 under a long-term management contract and the property will be reflagged early Fall 2006. This latest acquisition expands Apollo's European investments in the hospitality sector and the hotel company's European presence, joining The Savoy, A Fairmont Hotel and the Fairmont ...