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 hotel will continue to be managed and operated under a long-term management agreement with Accor.
The acquisition also marks Great Century’s first investment as it looks to focus on global investments in the golf and hospitality industries.
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.”
Fairmont St Andrews comprises 211 bedrooms, two championship golf courses, plus a spa, five restaurants and 3,000 sq mtrs of event space.
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.”