Originally Posted by Ancien Maestro

I remember the Sheik owning the properties, and divesting to Ontario Teachers Pension. So it wasn't that the Sheik didn't buy it.. he did, but I guess he wanted to own the reservation rights, and unloaded the properties.

No kidding, each hotel has like a 50 year management agreement with Fairmont at least. Fairmont also divested Kea Lani and Orchid down the line.. and for those who didn't know, Kea Lani is on land that was initially a 99 year leasehold agreement. Kea Lani building will eventually have to be given back.