Fairmont plans expansion in the ME

Kingdom Hotels and Colony Capital has acquired Fairmont Hotels and Resorts and will combine the Fairmont Hotels & Resorts and Raffles International portfolios, transforming the companies into a single global hotel enterprise operating 120 hotels in 24 countries.

This was announced at the Arabian Travel Market exhibition which concluded recently at Dubai World Trade Centre by Michael Kaile, Vice-President and General Manager of Fairmont, Dubai .

The various expansion projects of the Fairmont Hotels and Resorts include the rebranding of five Kenyan hotels in mid -2006 and plans are underway for $25 million in phased enhancements to these properties. Project partners include Kingdom Hotel Investment Group and IFA hotels and resorts. The Fairmont Cairo will open late in 2007 and will be part of the prestigious Nile City development in Central Cairo. The project developers include Nile City investments and Kingdom Hotel Investment group. As part of their expansion plans, the Fairmont Group has formed partnership with Swiss Hotels and Raffles Group to launch Raffles hotel in Dubai, according to Ingo C Peters, Director, General Manager of Raffles hotel.

Apart from this, the Fairmont Palm Hotel and Resort and a the Fairmont Palm Residences are scheduled to open in 2008 and the sales of the residence portion of the project are currently underway.

Project partners include Kingdom Hotel Investment Group and IFA hotels and resorts.

A senior official from Fairmont told Khaleej Times: “The group is positioning itself as one of the leading luxury operators within the region and in 2009, Fairmont will inaugurate The Fairmont Abu Dhabi, The Crescent of the Palm, Jumeirah and the Fairmont, Zimbali."

He also added: “The Fairmont Abu Dhabi will consist of 24 high rise residential towers and it will be managed by Fairmont on behalf of the Abu Dhabi based National Investment Corporation. The project in Zimbail will be partnered by IFA Hotels & Resorts with an investment of more than $250 million.

The Crescent will be available for vacation ownership and free hold ownership.

Partnerships willl eventually increase international brand presence of the group in the coming years.