Fairmont Hotels & Resorts

Financial Main Page | IGHRM Main Page
Disclaimer:

International Guild of Hospitality & Restaurant Managers

Fairmont Hotels & Resorts (FHR)

Fairmont Hotels & Resorts Inc., formerly Canadian Pacific Hotels & Resorts, is a luxury hotel management company with operations throughout the United States and Canada . The Company is engaged in both the ownership and management of hotels. In October 2001, the Company was spun-off from Canadian Pacific Ltd.

The Company has a 100% interest in Delta Hotels Limited, which manages and franchises 39 first-class urban and resort properties across Canada . It also holds a 67% controlling interest in Fairmont Hotels & Resorts, which manages 39 luxury city center and resort hotels such as The Plaza in New York City , The Fairmont San Francisco and The Fairmont Banff Springs. The Company has extended the use of the Fairmont brand to all its managed properties in Canada , while retaining individual hotel names of historic significance.

In addition to hotel management, the Company holds ownership interests in luxury hotels. As of December 31, 2001 , Canadian Pacific Hotels had real estate interests in 21 properties, mainly luxury resort properties, and an approximate 35% investment interest in Legacy Hotels Real Estate Investment Trust (Legacy), which owns 21 luxury and first-class hotels.

In February 2002, Fairmont opened its first overseas property with the addition of a new hotel in Dubai . Within the Company's existing portfolio, owners have upgraded several of the properties. During 2001, The Fairmont San Francisco unveiled a full hotel renovation. The Fairmont Miramar Hotel Santa Monica completed renovations to all guestrooms and public spaces in mid-2001, and The Fairmont San Jose opened an additional 250 guestrooms in February 2002.

In August 2001, the Company launched a new interactive Website, allowing guests to view properties, book room reservations and plan all components of their stay. These include recreational activities such as golf, spa and restaurant reservations.

The Company introduced its signature spa brand, Willow Stream-the Spas at Fairmont , at the end of 2001. In 2002, spas under the Willow Stream brand will open at The Fairmont Southampton Princess and The Fairmont Acapulco Princess. In addition, The Fairmont Banff Springs will rebrand its existing spa.

Disclaimer:
The data included within the Financial section is solely for information and does not construe a recommendation and/or endorsement by IGHRM or its members to invest funds with any of the companies listed. You are strongly advised to obtain professional advice with qualified individuals or corporations for any investments of funds.

IGHRM Main Page