Fairmont Buys Remains Of Management Co. For $70M

TORONTO— Fairmont Hotels & Resorts Inc. has acquired the remaining interest in its management company for $70 million. According to a Reuters report, Fairmont, which operates more than 80 hotels in the United States, Canada, Mexico, Bermuda, Barbados and the United Arab Emirates, now wholly owns the Fairmont management company and anticipates “considerable growth” in the future for the luxury brand SOURCE: Reuters