Who Owns Fairmont Properties?
 

I was always curious about this. @:-)

I hear Prince Al Waleed bin Talal owns the Fairmont Monte Carlo - the building - formerly the Loews before it became the Fairmont. This is what is being known in Monaco.

I wonder if he owns other Fairmont properties? :confused:

If not him who owns the other hotels?

I believe Fairmont was bought by a member of the Saudi royal family a few years ago...

Thank you for confirming.

Prince Al Waleed bin Talal is indeed a member of the Saudi royal family one of King Abdullah's nephews.

http://en.wikipedia.org/wiki/Al-Waleed_bin_Talal

A businessman owner of the first private A380 dubbed as "the flying palace" among many other toys and things.

:-:

Most properties in North America are now owned by either pension funds or reits. I do find it interesting though that Marriot purchased the Kea Lani a few years back and agreed to a 50 plus year managment contract with Fairmont. In Asia and the Middle East the properties are owned by Developers who have signed long term contracts with Fairmont.

The time share products (Heritage Place) are usually owned by Developers who then sell the units to several investors in blocks of 1/10th ownership per unit.

For a list of what the prince owns go here:

http://www.kingdomhotels.com/hotelportfolio.html

Thank you for your post.

The list must not have every property owned by the Prince.
The Fairmont Monte Carlo is not on there. Prince Al Walid bin Talal owns the building, probably under a different company name.

i believe in 2006 Prince Al Waleed bought the majority of Fairmont shares and took the company private.

later he partnered with Bill Gates (microsoft) and bought the Four Season shares and took the company private as well.

i am not 100% sure, but i think thats what happened

I know the Sheik stays at the Olympic when the annual CEO's meeting is held. He takes over the top floor and there is security everywhere!

It is true. I have seen members of the family there on a few occasions.

His now wife is his 4th I believe so he must have quite an extended family hence he needs the whole top floor! ;)

he currently has one wife, one son and one daughter

I was wrong there. Princess Ameera is his third wife.

Wives

* Princess Dalal bint Saud bin Abdul Aziz al Saud, mother of Prince Khaled and Princess Reem (divorced)
* Princess Eman bint Naser bin Abdulah al Sudairy (divorced)
* Princess Amera al Taweel

http://en.wikipedia.org/wiki/Al-Waleed_bin_Talal#Wives

Probably owned under Kingdom Holdings.

Many Fairmonts, if not most, are owned by companies other than Fairmont. Michael Dell owns the Fairmont Miramar. Maritz Wolff owns the San Francisco and San Jose properties. DiNapoli Capital owns the Dallas Fairmont.

Fairmont Hotels and Resorts is owned by Fairmont Raffles Hotels International.
Here's a quote from Wikipedia:
"Fairmont Raffles Hotels International is a Toronto, Canada-based hotel chain owned by Kingdom Hotels and Los Angeles based Colony Capital, LLC. The group was formed in January 2006, when Kingdom and Colony acquired Fairmont Hotels and Resorts and combined Fairmont's business with Raffles. The parent company now manages three brands of hotels under their arm, Raffles, Fairmont and Swissôtel with 88 hotels and resorts in 27 countries worldwide. The company also owned Delta Hotels at one point but sold the Canadian based hotel management company in October 2007 to bcIMC (B.C. Investment Management Corporation), a Crown Corporation."

I thought Raffles was owned by Temasek Holdings... at least the Raffles Hotel in Singapore.... I am thinking of the property not the management. :confused:

http://www.temasekholdings.com.sg/

:-:

CP/Fairmont used to "own and operate" most of the hotels under the brands but like most other hotels these days, owership and management are now seperate. Most hotels are owned by an investment company and/or REIT and then managed with long term contracts under the Fairmont brand.

The Calgary Palliser and the Edmonton Hotel McDonald are owned by InnVest REIT. The Banff Springs and Lake Louise are owned by a partnership between a private hotel company (Westmount) and an arm of the Quebec Pension Plan (The Caisse)

Michael