TORONTO -- Fairmont
Hotels & Resorts acquired the Fairmont management company for
$70 million from Maritz Wolff & Co, which held a minority
interest in the firm.
We are pleased to
now own 100% of the Fairmont management company as we anticipate
considerable growth for our luxury brand over the next several
years, said William Fatt, the hotel chains CEO. Maritz, Wolff &
Co. is a significant owner of hotel real estate that we manage and
will continue to be an important partner for us in the
future.
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