TORONTO, Nov. 30 /CNW/ - Canadian Pacific Hotels & Resorts Inc., owners
of the Fairmont Hotels & Resorts, Canadian Pacific Hotels and Delta Hotels
brands, today announced that the Fairmont Hotels & Resorts brand will be
extended to its luxury properties in Canada. Individual hotel names of
historic significance will be retained.
Canadian Pacific Hotels & Resorts Inc., which acquired 67% ownership of
Fairmont Hotels & Resorts in October of 1999, has been operating its hotels in
the US, Mexico, and the Caribbean under the Fairmont brand for the past year,
using the Canadian Pacific Hotels name domestically. According to William R.
Fatt, Chairman and CEO of the company, there was a need to consolidate the
hotels under one flag. By putting all of our hotels under one brand, we will
be able to create a consistent sales message and grow the company
internationally. We are already the largest luxury brand in North America with
36 hotels and approximately 18,160 rooms. This is a Canadian success story,
and we intend to build on it aggressively.
Many of the hotels currently under the Canadian Pacific Hotels flag have
historical significance. The company will be retaining these names. We
recognize and respect that these are not generic hotels -- they have
individual names that are well known in the communities where they are
located. said Fatt. The Chateau Laurier, the Chateau Frontenac, the Banff
Springs - these names are part of our Canadian heritage. Many of them have
already changed brands two or three times, without losing their character.
With this branding strategy, we will retain the icon names while providing the
additional opportunities that the association with an international brand can
bring.
In August of 1998, the company acquired Princess Hotels, with properties
located in the United States, Mexico and the Caribbean, and rebranded them
under the Canadian Pacific Hotels flag. We learned that despite the strong
equity of the Canadian Pacific name here in Canada, it was not marketable for
international growth, said Fatt. To be truly competitive we needed a brand
that fit with our expansion plans. With Fairmont Hotels & Resorts we gained
just such a brand. Now we will be able to keep these properties under Canadian
control, while making them part of an expanded network.
Fatt acknowledges that the Canadian Pacific Hotels brand has historic
significance domestically. The transition to a brand that is less well known
here will take time. However, our corporate office remains in Canada, our
global reservations network is here, we are a Canadian controlled company, and
a proud member of the Canadian Pacific family.
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