What is the Fairmont planning?
In addition to the three new properties coming in this region – Abu Dhabi, The Palm and Cairo – Fairmont Hotels & Resorts has reached an agreement to manage The Savoy, London, upon completion of sale.
Coming hot on the heels of the London property, Fairmont Hotels & Resorts announced a new joint venture agreement with Bank of Scotland Corporate and Kingdom Hotels International to invest in luxury European hotels. The joint venture’s first investment is the purchase of the Monte Carlo Grand hotel in Monaco, a 619-room landmark property on one of the most coveted stretches of the Côte d’Azur. The hotel will be managed by Fairmont and reflagged The Fairmont Monte Carlo this year, with plans for a two-year $50 million refurbishment.
What’s the company’s strategy in the face of competition?
Global expansion of the Fairmont brand into Europe with the addition of The Savoy, London and the Monte Carlo Grand, as well as confirmed expansion plans within the Middle East, are a clear indicator of our commitment to international brand expansion and the need for presence in key strategic markets. Strategic joint ventures will focus international expansion.
Our brand positioning is key for 2005 through a portfolio of properties each with unrivalled presence and a service offering combining authentic local experiences with personalised service, to ensure that Fairmont Hotels & Resorts is the destination of choice. Added value lifestyle experiences through those properties with our own Willow Stream branded spas, golf facilities and renowned dining opportunities, will ‘up the ante’ in the marketplace.
Is Fairmont bullish about 2005? If yes, why?
If we look at this from a regional perspective, The Fairmont Dubai enjoyed a successful 2004 – along with its peers - and indicators are that 2005 will continue in the same vein, with limited new room stock coming into the market during the next 12 months allowing for business optimisation across all revenue streams
What can guests look forward to in the new year?
Among others, the recently announced group-wide partnership with Skywards will also open up Fairmont Hotels & Resorts to an extensive client base/new audience and allow for valuable marketing opportunities between the two brands which, in 2005, will be of crucial benefit to brand exposure in strategic markets.’’