The Fairmont St. Andrews is an award-winning, luxury golf resort on 520 spectacular bluff top acres with panoramic views of Eden Estuary and the North Sea. Located in the “Home of Golf” adjacent to St. Andrews’ Castle course, the 209-room Fairmont features two championship golf courses, a full spa and health club, business and conference center, plus several dining choices. The resort has served as a host venue of the Scottish Seniors Open and British Open qualifiers. At the time, the property included two manor homes and planning approvals for an additional 79 manor/holiday homes on prime acreage adjacent to the hotel.
In 2014, with its two golf courses freshly upgraded, the Fairmont was primed for a sale and the owners needed a team with deep industry expertise and the ability to market the property to a global pool of qualified investors.
The Solution & Outcome
CBRE Hotels is comprised of a dedicated group of resort experts across the globe, including a specialty Golf & Resort Group in the U.S. The team, coordinated by the CBRE Hotels team in EMEA, leveraged its industry expertise and network to market the resort, its championship golf courses and development land to potential buyers worldwide. The iconic asset was ultimately secured with a winning bid from U.S. / European investment firm Kennedy Wilson, who purchased the luxury resort for $53.8 million USD in August 2014.