Looks like we missed a confirmed new Fairmont: the Fairmont Monte Carlo.

http://www.forbes.com/infoimaging/fe...ap1725979.html

"Scottish bank HBOS PLC, Canada's Fairmont Hotels & Resorts Inc., and a trust linked to Saudi Prince Alwaleed bin Talal on Wednesday said they formed a joint venture to invest in European hotels, and kicked off the partnership by acquiring the Monte Carlo Grand Hotel in Monaco.

The joint venture will have a $1.5 billion bank roll, of which HBOS division Bank of Scotland will fund 50 percent. Prince Alwaleed's Kingdom Hotels International and Fairmont will each contribute 25 percent to the partnership.

The hotels acquired by the joint venture will be managed by Fairmont, and Bank of Scotland will provide debt financing for the projects. Cedar Capital Partners will serve as manager and investment adviser for the joint venture.

The venture did not disclose the terms of its acquisition of the Monte Carlo Grand Hotel. The hotel will be rebranded as the "Fairmont Monte Carlo" in March 2005, and the group expects to invest $50 million to refurbish it."