{"id":5499,"date":"2016-02-19T07:00:48","date_gmt":"2016-02-19T12:00:48","guid":{"rendered":"https:\/\/qa.bluevaultpartners.com\/?post_type=news&#038;p=5499"},"modified":"2016-02-18T12:14:14","modified_gmt":"2016-02-18T17:14:14","slug":"carey-watermark-investors-acquires-remaining-interest-in-fairmont-sonoma-mission-inn-spa","status":"publish","type":"post","link":"https:\/\/qa.bluevaultpartners.com\/carey-watermark-investors-acquires-remaining-interest-in-fairmont-sonoma-mission-inn-spa\/","title":{"rendered":"Carey Watermark Investors Acquires Remaining Interest in Fairmont Sonoma Mission Inn &#038; Spa"},"content":{"rendered":"<p class=\"subtitle\">Brings ownership of AAA Four Diamond resort to 100 percent<\/p>\n<p class=\"release-details\">Feb 17, 2016, 07:30 ET from <a href=\"http:\/\/www.prnewswire.com\/news\/carey+watermark+investors\">Carey Watermark Investors<\/a><\/p>\n<p><span class=\"xn-location\">NEW YORK<\/span>, <span class=\"xn-chron\">Feb. 17, 2016<\/span> \/PRNewswire\/ &#8212; Carey Watermark Investors Incorporated (CWI 1) announced that it has acquired from Fairmont Hotels &amp; Resorts the remaining 25 percent interest in the Fairmont Sonoma Mission Inn &amp; Spa, bringing its ownership of the property to 100 percent. CWI 1 acquired its original 75 percent joint venture interest from Fairmont in <span class=\"xn-chron\">July 2013<\/span>. Fairmont will continue to manage the luxury resort under a long-term management agreement.<\/p>\n<p>The 226-room resort is located in idyllic <span class=\"xn-person\">Sonoma Valley<\/span> in the heart of <span class=\"xn-location\">Northern California&#8217;s<\/span> wine country, 15 miles west of <span class=\"xn-location\">Napa<\/span> and 35 miles north of <span class=\"xn-location\">San Francisco<\/span>. The hotel was built in 1927 on the 13 acre site of the former Boyes Hot Springs Hotel, which was developed in 1895.<\/p>\n<div class=\"pull-right inline-gallery-container col-sm-7 col-xs-12\">\n<div class=\"inline-gallery\">\n<div class=\"row\">\n<div class=\"col-sm-12\">\n<figure>\n<div class=\"image \"><a href=\"https:\/\/photos.prnewswire.com\/prnvar\/20160216\/333882?max=1600\" data-toggle=\"lightbox\" data-type=\"image\" data-gallery=\"assetgallery\" data-parent=\".inline-gallery\" data-title=\"Carey Watermark Investors Incorporated acquired the remaining 25 percent interest in the Fairmont Sonoma Mission Inn &amp; Spa, bringing its ownership of the property to 100 percent.\"><img decoding=\"async\" id=\"imageid_1\" class=\"gallery-thumb img-responsive\" src=\"https:\/\/photos.prnewswire.com\/prnvar\/20160216\/333882?max=650\" alt=\"Carey Watermark Investors Incorporated acquired the remaining 25 percent interest in the Fairmont Sonoma Mission Inn &amp; Spa, bringing its ownership of the property to 100 percent.\" \/><\/a><\/div>\n<div class=\"social\"><\/div><figcaption>Carey Watermark Investors Incorporated acquired the remaining 25 percent interest in the Fairmont Sonoma Mission Inn &amp; Spa, bringing its ownership of&#8230;<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><b>Key Facts:<\/b><\/p>\n<ul type=\"disc\">\n<li><b>Recent Renovations:<\/b> The renovation completed in <span class=\"xn-chron\">July 2013<\/span> for approximately <span class=\"xn-money\">$10.7 million<\/span> included a guestroom update, a redesign of the lobby and fine dining room, Sant\u00e9, as well as the creation of a new lobby bar. Since then, additional work has been done on the spa and other areas of the property to further enhance this ultimate wine country retreat.<\/li>\n<li><b>Management:<\/b> Fairmont will continue to manage the hotel. With more than 70 hotels globally, and many more in development, the Fairmont collection boasts some of the most iconic hotels in the world, including The Plaza in <span class=\"xn-location\">New York<\/span>, The Savoy in<span class=\"xn-location\">London<\/span>, Fairmont Peace Hotel in <span class=\"xn-location\">Shanghai<\/span> and Fairmont Le Ch\u00e2teau Frontenac in Qu\u00e9bec City. Fairmont is owned by FRHI Hotels &amp; Resorts, a leading global hotel company that operates more than 130 hotels and branded residential properties under the Raffles, Fairmont and Swiss\u00f4tel brands.<\/li>\n<li><b>Property and amenities<\/b>:\n<ul type=\"circle\">\n<li>226 rooms encompassing 60 suites and 166 guestrooms<\/li>\n<li>12,000 square feet of interior meeting and banquet space<\/li>\n<li>Recently renovated 40,000-square-foot spa located atop a thermal mineral spring<\/li>\n<li>Fitness center<\/li>\n<li>Business center<\/li>\n<li>Access to the Sonoma Golf Club and 18-hole championship course<\/li>\n<li>Access to tennis courts<\/li>\n<li>Outdoor pool<\/li>\n<li>Five on-site lounges and restaurants, including Sant\u00e9, a Michelin-rated fine dining restaurant<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><b>Management Commentary<\/b><\/p>\n<p><span class=\"xn-person\">Michael Medzigian<\/span>, Chief Executive Officer of the Carey Watermark Investors 1, said:<\/p>\n<p>&#8220;We are delighted to acquire Fairmont&#8217;s interest in this world-renowned luxury resort and look forward to our continued relationship with them as manager of the property. The recent renovations have enhanced the resort, solidifying its position as one of the best luxury properties in the Sonoma\/<span class=\"xn-location\">Napa<\/span> market. Given the strong market and the high barriers to entry, we believe that our full ownership of the property will further enhance its current value within our portfolio, and allow us to make additional strategic investments to maximize its value over the longer term.&#8221;<\/p>\n<p>Carey Watermark Investors Incorporated (CWI 1) is a publicly registered real estate investment trust (REIT) that was formed to make investments primarily in the lodging and lodging-related sectors. Affiliates of W. P. Carey Inc. and Watermark Capital Partners advise CWI 1 and manage its overall portfolio. <a href=\"http:\/\/www.careywatermark.com\/\" target=\"_blank\" rel=\"nofollow\">www.careywatermark.com<\/a><\/p>\n<p><i>This press release contains forward-looking statements within the meaning of the Federal securities laws. The statements of Mr. Medzigian are examples of forward looking statements. A number of factors could cause actual results, performance or achievement to differ materially from those anticipated. Among those risks, trends and uncertainties are the general economic climate; the supply of and demand for hotels; interest rate levels; the availability of financing; and other risks associated with the acquisition and ownership of hotels. For further information on factors that could impact CWI 1, reference is made to its filings with the Securities and Exchange Commission.<\/i><\/p>\n<p>Photo &#8211; <a href=\"http:\/\/photos.prnewswire.com\/prnh\/20160216\/333882\" target=\"_blank\" rel=\"nofollow\">http:\/\/photos.prnewswire.com\/prnh\/20160216\/333882<\/a><br \/>\nLogo &#8211; <a href=\"http:\/\/photos.prnewswire.com\/prnh\/20130530\/NY22864LOGO-b\" target=\"_blank\" rel=\"nofollow\">http:\/\/photos.prnewswire.com\/prnh\/20130530\/NY22864LOGO-b<\/a><\/p>\n<p>SOURCE Carey Watermark Investors<\/p>\n<h4>Related Links<\/h4>\n<p><a title=\"Link to http:\/\/www.careywatermark.com\" href=\"http:\/\/www.careywatermark.com\/\" target=\"_blank\" rel=\"nofollow\">http:\/\/www.careywatermark.com<\/a><\/p>\n<p><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-ico-before dashicons-text\" style=\"background-color: #33809e; color: #ffffff;\" href=\"http:\/\/www.prnewswire.com\/news-releases\/carey-watermark-investors-acquires-remaining-interest-in-fairmont-sonoma-mission-inn--spa-300221197.html\" data-fasc-style=\"background-color:#33809e;color:#ffffff;\">Article Located Here<\/a><\/p>\n<div style=\"clear:both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Brings ownership of AAA Four Diamond resort to 100 percent Feb 17, 2016, 07:30 ET from Carey Watermark Investors NEW YORK, Feb. 17, 2016 \/PRNewswire\/ &#8212; Carey Watermark Investors Incorporated &hellip; <\/p>\n<p><a href=\"https:\/\/qa.bluevaultpartners.com\/carey-watermark-investors-acquires-remaining-interest-in-fairmont-sonoma-mission-inn-spa\/\" class=\"read-more\">Read more<\/a><\/p>\n","protected":false},"author":6,"featured_media":5500,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[3010,2739],"tags":[],"class_list":["post-5499","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asset-manager-news","category-nontraded-reit"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Carey Watermark Investors Acquires Remaining Interest in Fairmont Sonoma Mission Inn &amp; Spa - Blue Vault<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/qa.bluevaultpartners.com\/carey-watermark-investors-acquires-remaining-interest-in-fairmont-sonoma-mission-inn-spa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Carey Watermark Investors Acquires Remaining Interest in Fairmont Sonoma Mission Inn &amp; 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