18th Aug 2014 08:16
LONDON (Alliance News) - Kennedy Wilson Europe Real Estate PLC Monday said it has acquired Fairmont Hotel in St Andrews, Scotland from SABD Holding (UK) Ltd in a deal worth GBP32.4 million.
The property is operated by hospitality company Fairmont Hotels and Resorts under a management agreement until 2031.
The hotel consists of 209 rooms, two 18 hole golf courses, a fitness centre and spa.
Kennedy Wilson shares were quoted up 1.7% at 1,085.00 pence Monday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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