Fairmont St Andrews has announced that its holding company, St Andrews Bay Development Limited, has been acquired by a company led by Great Century.
The partners of Great Century have established a strategic plan focusing on global investments within the golf and hospitality industries. This represents Great Century’s first investment.
Fairmont, an Accor brand, continues to manage and operate the hotel under its long-term management agreement.
Dr. CYM Chan, Co-Chairman of Great Century, said: “As a member of The Royal & Ancient Golf Club and a passionate golfer with over 30 years’ experience in the golf & hospitality industries, it is a privilege and an honour to participate closely in the future enhancement of this great property at St Andrews, Scotland, the Home of Golf.”
Dr. Peter Lam, Chairman of Lai Sun Group and Co-Chairman of Great Century, expresses similar excitement: “I am extremely confident about the future potential that the Fairmont St Andrews holds. I am proud to be a partner in this long-term investment.”
The 520-acre five-star Fairmont St Andrews resort encapsulates luxury, elegance and truly breathtaking surroundings in the ‘Home of Golf’. The 212-bedroom hotel enjoys spectacular cliff-top views and boasts two championship golf courses, The Kittocks and The Torrance, in addition to a 10-treatment room spa, five restaurants and bars, 3,000sqm of conference and event space and two private Manor Homes, each with four bedrooms.
Marc Dardenne COO Accor Europe, Luxury Brands said: “Fairmont St Andrews is one of the most prestigious addresses in Accor’s portfolio and we are delighted that it has become Great Century’s first investment. We look forward to working with the team at Great Century to build on the property’s proud heritage and its unique place in the hearts of golfers from around the world.”
Mr. John Keating, General Manager of Fairmont St. Andrews, comments: “This partnership marks a special day for Fairmont St Andrews, bringing together the strengths, passions and vision of Great Century, Fairmont and Accor to create greater opportunities for the hotel in the domestic and international markets.”
2020 will be another exciting year for the Fairmont St Andrews as it will host the Final Qualifier for The 2020 Open Championship at Royal St. George’s Golf Club.
Pressroom
NOTES TO EDITORS:
Great Century engaged London & Oriental LLP, Brodies LLP, Braemar Golf and Ernst & Young to advise on the acquisition.
For more information on Great Century: mhenderson@greatcentury.com
For more information on Fairmont St Andrews, Fairmont or Accor: sarah.wilson@accor.com
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About Great Century Great Century is a global investments and asset management company, specialized in the golf and hospitality industries. Headquartered in Hong Kong, Great Century spots opportunities with strong appeal and potential to develop into Asia, as well as focusing on global investments and asset managements in Europe and North America. Great Century’s core focus is on investing and operating projects that can create growth and scaled opportunities, extending into various industries that complement the golf element, such as clubs and resorts, dining and technology led establishments, to ultimately build memorable golf experiences. About Lai Sun Group The Lai Sun Group is a well-diversified conglomerate based in Hong Kong and its principal activities include property investment, property development, investment in and operation of hotels and restaurants, media and entertainment, music production and distribution, films, video format products and television programmes production and distribution, cinema operation, cultural, leisure, entertainment and related facilities and investment holding. About Fairmont Fairmont Hotels & Resorts is where occasions are celebrated and history is made. Landmark hotels with unrivalled presence, authentic experiences and unforgettable moments have attracted visitors to Fairmont and its destinations since 1907. The Plaza in New York City, The Savoy in London, Fairmont San Francisco, Fairmont Banff Springs and Fairmont Peace Hotel in Shanghai are but a few of these iconic luxury hotels, forever linked to the special places where they reside. Famous for its engaging service, grand public spaces, locally inspired cuisine and celebrated bars and lounges, Fairmont promises a special brand of thoughtful luxury that will be remembered long after any visit. With a worldwide portfolio of more than 75 hotels, Fairmont also takes great pride in its deep community roots and leadership in sustainability. Fairmont is part of Accor, a world-leading augmented hospitality group offering unique and meaningful experiences in 4,900 hotels, resorts, and residences across 110 countries. About Accor Accor is a world-leading augmented hospitality group offering unique experiences in 4,900 hotels and residences across 110 countries. The Group has been acquiring hospitality expertise for more than 50 years, resulting in an unrivaled portfolio of brands, from luxury to economy, supported by one of the most attractive loyalty programs in the world. Beyond accommodation, Accor enables new ways to live, work, and play, by blending food and beverage with nightlife, wellbeing, and co-working. It also offers digital solutions that maximize distribution, optimize hotel operations and enhance the customer experience. Accor is deeply committed to sustainable value creation and plays an active role in giving back to planet and community via its Planet 21 – Acting Here program and the Accor Solidarity endowment fund, which gives disadvantaged groups access to employment through professional training. Accor SA is publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACRFY) in the United States. For more information visit accor.com. Or become a fan and follow us on Twitter and Facebook.Press contacts
Sarah Wilson
Director of Communications, Accor, Northern Europe
T. 0203 772 3580
E: sarah.wilson@accor.com
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