FRHI Hotels & Resorts, the parent company of luxury and upper upscale hotel brands Raffles Hotels & Resorts, Fairmont Hotels & Resorts and Swissôtel Hotels & Resorts, together with California financier Richard Blum and his family, have purchased the historic Claremont Hotel Club & Spa in Berkeley, California.
FRHI and the Blum family are equal partners and terms were not disclosed.
The purchase supports FRHI’s growth strategy of acquiring strategic assets in key leading markets.
The new owners will begin work on a multi-million dollar capital investment project to update the hotel’s facilities and enhance the Claremont’s stunning architecture, while at the same time preserving and protecting the character and local charm of the Bay Area landmark.
Once the revitalisation work is complete, the hotel will join the Fairmont Hotels & Resorts collection, an impressive portfolio of hotels that includes famed landmarks such as New York’s The Plaza and The Fairmont San Francisco.
“Growth continues to be one of our top priorities, so we are extremely excited to be adding an asset as attractive as the Claremont,” said Kevin Frid, president, Americas, FRHI Hotels & Resorts.
“We see this as an opportunity to grow one of our leading brands with the right product, in the right market.
“We firmly believe the hotel is a perfect complement to many of the other celebrated hotels in the Fairmont Hotels & Resorts portfolio.”
Built in 1915, the Claremont offers 279 guestrooms and suites and is ideally situated at the base of the Claremont Canyon Regional Preserve, overlooking scenic San Francisco Bay.
A grand hotel with California fairytale architecture, the hotel is rich in history and will mark its 100th anniversary in 2015.
The property also includes a Social & Tennis Club with more than 1,500 loyal members who enjoy the hotel amenities, fitness facilities and healthy lifestyle programmes.
Club members are an essential part of the Claremont and contribute to the warmth and personality of the property.
Blum said: “My family and I are pleased to participate in an investment in this iconic property.
“The Claremont is a true California treasure and its future can only be enhanced with the Fairmont imprimatur.”
The Claremont joins five other FRHI properties serving guests in California.
They include The Fairmont San Francisco, The Fairmont San Jose, The Fairmont Sonoma Mission Inn & Spa, The Fairmont Newport Beach, The Fairmont Miramar Hotel & Bungalows in Santa Monica, and the Fairmont Heritage Place, Ghirardelli Square.