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Fairmont Hotel goes on the sales block

Tuesday, June 14, 2011

imageNow that the Fairmont Hotel is being put up for sale, the speculation has begun over whether the hotel workers union’s blocking the Nob Hill landmark’s condo conversion is really to blame or whether something else is at play. Bloomberg notes that half-owner Maritz, Wolff & Co. (as in A’s owner Lew Wolff) has been shedding most of its hotel properties, anyway.

Add Fairmont: It’s being put on the market without a sales price. Or at least Maritz, Wolff’s 50 percent stake is. The other half-stake is owned by Saudi billionaire Prince Alwaleed bin Talal, and it isn’t clear whether he wants out.
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