The five-star Fairmont St Andrews hotel has been bought by Hong King-based investors specializing in golf developments.
It is the first investment for Great Century, which is a partner of Hong Kong property firm Lai Sun Group. The new owners have bought holding company, St Andrews Bay Development Limited for an undisclosed sum.
Fairmont, a brand of international hotel group Accor, will continue to manage and operate the hotel under a long-term agreement.
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