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The Fairmont Hotel in St. Andrews, Scotland, has a new owner

Kennedy Wilson Europe Real Estate, a London-based company, announced it reached an agreement with SABD Holding for the purchase of the Fairmont Hotel St. Andrews, in Scotland, for about £32.4 million (approx. €40,5 millions).

Kennedy Wilson Europe Real Estate adds the Fairmont Hotel St. Andrews in East Scotland, near the North Sea, to its portfolio. The luxuous property is operated by Fairmont Hotels and Resorts, and includes 209 rooms, two 18-hole golf courses as well as extensive conference facilities. Kennedy Wilson and SABD Holding, former owner of the hotel, sealed the deal for about £32.4 million (€40.5 million). This new asset is Kennedy Wilson's second recent purchase of a high quality hotel, following the Portmarnock Hotel in Dublin in June 2014. 

As of January 1, 2014, Fairmont Hotels & Resorts operated 70 hotels gathering 27,903 rooms, according to MKG Hospitality's world rankings (full report here).
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