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Fairmont flags The Savoy

Fairmont Hotels & Resorts’ management agreement for The Savoy in London and the adjacent Simpson’s-in-the-Strand restaurant is now complete, following the recent sale of The Savoy to Kingdom Hotels International, a company affiliated with His Royal Highness Prince Alwaleed Bin Talal Bin Abdulaziz Al Saud, and Bank of Scotland Corporate.

Fairmont Hotels & Resorts’ management agreement for The Savoy in London and the adjacent Simpson’s-in-the-Strand restaurant is now complete, following the recent sale of The Savoy to Kingdom Hotels International, a company affiliated with His Royal Highness Prince Alwaleed Bin Talal Bin Abdulaziz Al Saud, and Bank of Scotland Corporate.

The Savoy, now referred to as The Savoy Fairmont Hotel, is Fairmont’s second destination in Europe, following closely on the December 2004 acquisition of the Monte Carlo Grand.

“This marks the beginning of a new era for Fairmont and The Savoy,” says John Johnston, Fairmont’s executive vice president development for Europe, the Middle East & Africa.

“Fairmont has been looking for the ideal London fit in terms of reputation, location, capacity and integration with our existing Fairmont brand for quite some time,” Johnston adds.
“Now that we’ve found it in The Savoy it’s time to begin work on making an exceptional property even better.”

The Savoy opened in 1889 and was London’s first hotel to pioneer full electric lighting, private baths, its own coffee roaster and handmade beds. The property has recently begun renovation to restore it to its former glory and bring it in line with Fairmont brand standards.

Recent investment in the 263-room hotel has included the addition of 56 guestrooms, as well as the renewal of the Savoy Grill by Los Angeles designer Barbara Barry. Gordon Ramsey protégé and Petrus chef, Marcus Wareing has been brought in to run the kitchen, earning the restaurant a coveted Michelin star.

The majority of an estimated US $48 million in renovation capital will be invested in accommodation, including refurbishment of the river view suites and refreshing the hotel’s function areas, including the River Room. Completion of the work is anticipated by summer 2006.

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