Saturday, December 24, 2005

Fairmont Sells Big Island Orchid Hotel

Fairmont Orchid Hotel This week Fairmont Hotels and Resorts sold the luxurious Fairmont Orchid Hotel on the Kohala Coast of the Big Island for $250 million to Westbrook Partners. Fairmont will be given a contract to manage the resort, and for the time being the resort will keep its Fairmont brand name. Fairmont purchased the Orchid Hotel in 2002 for $140 million. Fairmont is also selling other assets, as part of an effort to fend off a hostile takover bid from billionaire investor Carl Icahn.

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