25 March 2012
RIYADH: Kingdom Holding Company (KHC), chaired by Prince Alwaleed bin Talal, announced that Fairmont Hotels and Resorts has purchased the Fairmont Sonoma Mission Inn and Spa, Sonoma County, California for $88 million. KHC owns a stake of 35 percent in Fairmont Hotels and Resorts.
RIYADH: Kingdom Holding Company (KHC), chaired by Prince Alwaleed bin Talal, announced that Fairmont Hotels and Resorts has purchased the Fairmont Sonoma Mission Inn and Spa, Sonoma County, California for $88 million. KHC owns a stake of 35 percent in Fairmont Hotels and Resorts.
Fairmont has been managing the historic 228-room resort since 2002.
Blessed by natural mineral hot springs in Sonoma Valley, Sonoma County, California and an idyllic, world famous region abundant with local products, including the Willow Stream Spa, championship Sonoma Golf Course and signature restaurant, the Michelin award winning Sante.
The Mission Inn and Spa is one of the only luxury spa resorts in the country with its own source of thermal mineral water.
Prince Alwaleed commented: "This strategic acquisition is consistent with Kingdom Holding's investment strategy. We continue to expand our hotel portfolio for further growth and development in the hotels' sector."
© Arab News 2012
