Who Owns Fairmont Properties?
#46
Join Date: Nov 2008
Location: YYC
Programs: Hilton Diamond, Fairmont Plat, IHG Spire, SPG Gold, WS Gold, Hertz PC, National E Elite,
Posts: 2,768
From Raffles.com:
http://www.raffles.com/EN_RA/MainNav...ffles/History/
There are so many sources out there with different information.
I think the moral is, that it is confusing Maybe we should create an open working document on Google Doc's to figure out the ownership structure.
Today, FRHI owns and manages 91 hotels worldwide under the Raffles, Fairmont and Swissôtel brands. The Company also owns Fairmont and Raffles branded Residences, Estates and luxury private residence club properties.
There are so many sources out there with different information.
I think the moral is, that it is confusing Maybe we should create an open working document on Google Doc's to figure out the ownership structure.
Last edited by CanuckFlyHigh; Mar 15, 2010 at 9:35 am
#47
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Join Date: Jan 2010
Location: Calgary, Alberta
Programs: Hyatt Diamond, Fairmont Platinum, Aeroplan Diamond, HHonors Gold, SPG Gold
Posts: 18,686
From Raffles.com:
http://www.raffles.com/EN_RA/MainNav...ffles/History/
There are so many sources out there with different information.
I think the moral is, that it is confusing Maybe we should create an open working document on Google Doc's to figure out the ownership structure.
http://www.raffles.com/EN_RA/MainNav...ffles/History/
There are so many sources out there with different information.
I think the moral is, that it is confusing Maybe we should create an open working document on Google Doc's to figure out the ownership structure.
The fact is, that some of these hotels have changed so many hands.. I wonder if its' because the owners who are stuck with these 50 or 100 year Fairmont agreements sell because the upside to the real estate is severely handicapped, and the only way out is to sell? Even the Sheikh, who once owned the Banff Springs, Lake Louise sold.. but I think in this case, he prepared iron clad 50 or 100 year agreements on each of the property, gets 20% of the cash flow from the properties managing the hotel, and eliminates the risk by divesting.. taking the money, buying other hotels.. putting on onerous 50 or 100 year Fairmont reservation agreements and then selling the hotels to other investors again.. This is a really good business model
The poor souls/corporations who acquire, and find out the mountain piles of obligations, and in a recession like this have to put in their own money to keep hotels afloat.. will have to bite the loss.. only way out? Sell the headaches.
#48
Join Date: May 1999
Location: YEG
Posts: 1,578
I think what happened is
Colony Capital and the Prince (KHI) agreed to establish a Canadian company called FRHI that will acquire Fairmont ( the management company).
of course the company manages all Fairmonts worldwide but don't own them.
if your are trying to find out who owns each fairmont hotel. then good luck.
KHI owns the following hotels.
http://www.kingdomhotels.com/hotelportfolio.html
good luck in finding who owns the rest of Fairmonts.
Colony Capital and the Prince (KHI) agreed to establish a Canadian company called FRHI that will acquire Fairmont ( the management company).
of course the company manages all Fairmonts worldwide but don't own them.
if your are trying to find out who owns each fairmont hotel. then good luck.
KHI owns the following hotels.
http://www.kingdomhotels.com/hotelportfolio.html
good luck in finding who owns the rest of Fairmonts.
#49
Join Date: Nov 2008
Location: YYC
Programs: Hilton Diamond, Fairmont Plat, IHG Spire, SPG Gold, WS Gold, Hertz PC, National E Elite,
Posts: 2,768
I dont think they paid almost 4 Billion to manage the hotels, and not own the real estate/goodwill. Actually, I know they didnt. So while we don't know the complete structure, the above is definately not true.
#50
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The sheikh bought Fairmont and sold a bunch of properties i.e. OMERS. :-: This is a general statement, I'm pretty sure it was more complicated than that.. but at the time, I remember reading a Fairmont announcement how some properties such as Kea Lani, Orchid, Banff Springs, Lake Louise.. were sold to different owners and at the end of the day there are 50 year, and 100 year agreements for Fairmont to manage the hotels. Owners have to pay for upkeep, maintenance, mortgage, staff, etc. While it be nice to own the say the Banff Springs, you'll probably have to pay for a refacing job of the entire exterior once every 30 years or so.. that's like a 250 million dollar job. Its' not easy being a hotel owner, as there's lots of risk. The Sheikh saw that, and ran.
#51
Join Date: May 1999
Location: YEG
Posts: 1,578
by the way Thanks a lot CanuckFlyHigh for posting the FAF thread on the other hotel forum. you made so many people happy. ^
#52
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my point is FRHI manages all Fairmonts worldwide. now finding out the ownership of each hotel tough task. plus who cares of who owns the Fairmont in Beijing or the ones in Vancouver for example. what matters is enjoying the phenomenal properties, service, upgrades and of course FAF rates
by the way Thanks a lot CanuckFlyHigh for posting the FAF thread on the other hotel forum. you made so many people happy. ^
by the way Thanks a lot CanuckFlyHigh for posting the FAF thread on the other hotel forum. you made so many people happy. ^
#53
Join Date: Nov 2008
Location: YYC
Programs: Hilton Diamond, Fairmont Plat, IHG Spire, SPG Gold, WS Gold, Hertz PC, National E Elite,
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No worries. It's been great for everyone I think. And regarding ownership, its just a personal interest of mine. Real estate is what I enjoy.
#54
Join Date: Jul 2008
Location: YYC
Posts: 471
And regarding ownership, its just a personal interest of mine. Real estate is what I enjoy.
Michael
#55
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+1.. we own commercial, apartments, houses, paper.. so personal interest of mine as well. That's why I have no problem taking in time share presentations.. generally I learn, and apply to our businesses internally.. and sometimes even get couple of rounds of golf on Maui (regular price $275 pp per round).^
#56
Join Date: Nov 2008
Location: YYC
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So I just had a big long team meeting, and up comes Fairmont, and who owns it, etc. People were speculating what they had heard in the past etc.. and I was smiling inside when I was able to burst out everything that we had discussed in this thread. I knew I was doing it for a reason
#57
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Join Date: Jan 2010
Location: Calgary, Alberta
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So I just had a big long team meeting, and up comes Fairmont, and who owns it, etc. People were speculating what they had heard in the past etc.. and I was smiling inside when I was able to burst out everything that we had discussed in this thread. I knew I was doing it for a reason
#58
Join Date: May 2007
Location: San Francisco Area
Programs: Hyatt Diamond, SPG Platinum, Fairmont Platinum, ICG Platinum Royal Ambassador, Avis President's Club
Posts: 317
From its website Colony Capital appears to be independent of Kingdom Hotels and the Prince. Does anyone have further information on the two entities ownership relationship?
#59
Join Date: Mar 2004
Location: CPT
Programs: BA BD SA
Posts: 4,467
I was reliably told by a manager there that it's owned by a Chinese tycoon (who has exclusive rights to distribute Red Bull in China). He apparently had a great deal of say in the decor and artworks in the public areas. And I've forgotten his name!
#60
Join Date: May 1999
Location: YEG
Posts: 1,578
Well, whether you care or not I am going to tell you.
I was reliably told by a manager there that it's owned by a Chinese tycoon (who has exclusive rights to distribute Red Bull in China). He apparently had a great deal of say in the decor and artworks in the public areas. And I've forgotten his name!
I was reliably told by a manager there that it's owned by a Chinese tycoon (who has exclusive rights to distribute Red Bull in China). He apparently had a great deal of say in the decor and artworks in the public areas. And I've forgotten his name!