Fairmont to buy The Orchid at Mauna Lani

TORONTO -- Continuing its buying spree, Fairmont Hotels & Resorts agreed to acquire The Orchid at Mauna Lani, on Hawaii, from an affiliate of Colony Capital LLC for $140 million.

Fairmont will operate the property and reflag it the Fairmont Orchid, Hawaii in December. The 538-room resort is located on the island's northwest Kohala Coast.

It's the third acquisition or planned purchase by Fairmont in recent weeks, joining deals involving the Fairmont Sonoma Mission Inn & Spa in Northern California and the Monarch Hotel in Washington D.C.

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