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Fairmont Hotels takeover

The earlier reported $3.3 billion takeover of Fairmont Hotels & Resorts Inc. by the Saudi prince Al-Waleed bin Talal looks set to go ahead after dissent debtholders withdrew their objections to the deal. Opposition was withdrawn after an additional $675,000 was offered. Fairmont currently owns 49 city centre and resort hotels, including The Fairmont San Francisco and The Fairmont Banff Springs.

Paul Johnson

Paul Johnson is Editor of A Luxury Travel Blog and has worked in the travel industry for more than 30 years. He is Winner of the Innovations in Travel ‘Best Travel Influencer’ Award from WIRED magazine. In addition to other awards, the blog has also been voted “one of the world’s best travel blogs” and “best for luxury” by The Daily Telegraph.

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