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Fairmont St Andrews has announced that its holding company, St Andrews Bay Development, 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.
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 and hospitality industries, it is a privilege and an honour to participate closely in the future enhancement of this great property at St Andrews, Scotland.”
Great Century is a global investments and asset management company, specialised 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.
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 breath-taking surroundings.
The 211-bedroom hotel enjoys spectacular cliff-top views and boasts two championship golf courses, the Kittocks and the Torrance, in addition to a ten-treatment room spa, five restaurants and bars, 3,000 sqm of conference and event space and two private manor homes, each with four bedrooms.
Marc Dardenne, chief operating officer, 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.”
Source: breakingtravelnews.com