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Article: Fairmont Hotels to Be Acquired for $3.3B
- Article from:
- AP Online
- Article date:
- January 31, 2006
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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AP Online
01-31-2006
Dateline: TORONTO
Fairmont Hotels & Resorts Inc., which originated in the historic Canadian Pacific Railway luxury hotel chain and counts the Chateau Laurier, Royal York and Banff Springs among its properties, said Monday, Jan. 30, 2006 its board is supporting an offer of $3.3 billion US in cash, (about $3.8 billion Cdn) from Kingdom Hotels International and Colony Capital. The Fairmont Royal York is seen in Toronto on Monday. (AP Photo/Canadian Photo, Aaron Harris)
A group of investors including Saudi Prince Alwaleed bin Talal has agreed to buy luxury hotel chain Fairmont Hotels & Resorts Inc. for about $3.3 billion in cash, trumping an earlier bid by ...