It should be noted that the $200M sale of the Fairmont Hotel was completed this week. An affiliate of Oaktree Capital Management and investor Michael Rosenfeld of Woodridge Capital have taken over, and Fairmont Hotels and Resorts will continue to run operations. Plans to demolish half of the hotel and replace it with condos were denied last year. And with this sale, fans of the 105-year-old alleged home of the first concierge in America can continue their sighs of relief. Despite past fears that a new buyer would move The Tonga Room elsewhere, it appears Rosenfeld and company intend to preserve the hotel's restaurant operations and Anthony Bourdain's favorite place for a Singapore Sling.
· San Francisco's famed Fairmont hotel sells for $200M [Biz Times]
· All Tonga Room Coverage [~ ESF ~]
· Fairmont Sold For 200000000 [CSF]