Fairmont Hotels & Resorts, Toronto, announced on Friday that it bought the Fairmont Sonoma Mission Inn & Spa, located in Sonoma, California, from Crescent Real Estate Equities, Fort Worth, Texas, for an undisclosed sum.
Fairmont, which has been managing the property since 2002, said that the purchase is part of a larger company strategy of strategic acquisitions at a time when many hotel management companies are taking an opposite asset light approach.
“The timing and circumstances presented a very attractive opportunity for us to purchase The Fairmont Sonoma Mission Inn as part of a direction of our company to support strategic acquisition opportunities,” said Mike Taylor, Fairmont’s director of public relations. “In pursuit of strategic expansion for the brand, Fairmont Hotels & Resorts will seek to increase its portfolio distribution by capitalizing on the increasing opportunities that exist in today’s marketplace.”
Taylor said no new renovations are planned for the property.