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Saudi Royal, Colony Capital To Acquire Fairmont Hotel Chain for $3.9B

Buyers To Pair Fairmont with Colony Capital's Raffles Hotel Chain To Compete in Luxury Hotel Category
By Tim Trainor
CoStar News
January 31, 2006 | 12:23 AM

Kingdom Hotels International, owned by a trust for Saudi Prince Alwaleed bin Talal bin Addulaziz Alsaud and his family, will partner with Colony Capital, headed by chairman and CEO Thomas J. Barrack, to acquire Toronto-based Fairmont Hotels & Resorts Inc. (TSX/NYSE: FHR), adding the firm's 87 properties to those already owned by Kingdom Hotels and Colony Capital to create a global luxury hotel chain with 120 hotels in 24 countries.

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