August 18, 2004

The 805-room Plaza Hotel in New York City has been sold for $675 million to Elad Properties, a residential developer, thereby promoting speculation that part of the hotel might be converted to condominiums. Fairmont will continue to manage the property through Elad's due-diligence phase, and is in active negotiation to sign a new management contract.

On Aug. 12, the 1,052-room Wyndham Orlando Resort, unveiled an additional 42,000 square feet of indoor meeting space, for a total of 77,000 square feet. The new areas are an 18,500-square-foot ballroom for up to 2,000 people and a 24,000-square-foot outdoor venue amid newly landscaped grounds.

Ground has been broken on the 5,630-square-foot Ironwood Ballroom, two outdoor function areas and three new meeting rooms at the Four Seasons Resort Scottsdale. When completed in December, the additions will bring the resort's total meeting space to 36,000 square feet.

After five years and $92 million of on-and-off renovations, major construction to Bermuda's 593-room Fairmont Southampton and 410-room Fairmont Hamilton Princess finally has been completed.