This week Fairmont Hotels and Resorts sold the luxurious Fairmont Orchid Hotel on the Kohala Coast of the Big Island for $250 million to Westbrook Partners. Fairmont will be given a contract to manage the resort, and for the time being the resort will keep its Fairmont brand name. Fairmont purchased the Orchid Hotel in 2002 for $140 million. Fairmont is also selling other assets, as part of an effort to fend off a hostile takover bid from billionaire investor Carl Icahn.December 2005
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