25 September 2017

ATM Review


Fairmont set for regional expansion
June 2005 21

Fairmont Hotels & Resorts announced that they have entered into talks with IFA Hotels & Resorts to manage a second resort property located on The Crescent of The Palm, Jumeirah. 

This is in addition to The Fairmont Palm Hotel & Resort and The Fairmont Palm Residence projects launched at last year’s ATM and for which sales of the residence went live last month.
Fairmont Hotels & Resorts’ regional expansion moves full steam ahead as the newly-formed Europe, Africa & Middle East (EAME) division energises the brand through a series of recent acquisitions and launches.
At the helm of the EAME setup is John Johnston, Dubai-based executive vice-president for Fairmont Hotels & Resorts. “This is a natural evolution for our brand,” said William Fatt, Fairmont’s CEO. “With a number of existing projects ongoing in the region and many of our key strategic partners located in the Gulf, it was only a matter of time before Fairmont established a full-time corporate presence overseas.”
With expansion in Europe a key focus for international development, Stephen Banks has moved from Dubai to the London global sales office as executive director, sales and marketing, EAME.
Following the announcement at ATM 2004 of three new-build Middle East projects – in Abu Dhabi; on The Palm, Jumeirah; and in Cairo – the group acquired its first two European properties through a joint venture partnership with HH Prince Al Waleed bin Talal of Kingdom Hotel International, and Bank of Scotland Corporate. The joint venture’s first investment was the December 2004 purchase of the Monte Carlo Grand hotel in Monaco followed by The Savoy, London. Both hotels were reflagged as Fairmont properties in first quarter 2005 and will undergo multi-million dollar refurbishment projects in the coming months.




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