Appleby acted as Bermuda counsel to AccorInvest Group in connection with the sale of its Fairmont Southampton property. Fairmont Southampton which features 593-rooms, 10 restaurants, a spa, the 18-hole, par-three Turtle Hill Golf Club, the Mid-Ocean Amphitheatre and more than 25,000 square feet of meeting space is Bermuda's largest tourism property.
AccorInvest Group sold the property to an affiliate of Miami-based Gencom, a leading international investment and development firm which also owns the Rosewood Bermuda resort. Gencom said: "The hotel will remain under the brand and management of Fairmont Hotels & Resorts. Acquiring Fairmont Southampton demonstrates Gencom's steadfast commitment to supporting the long-term growth of Bermuda's tourism and hospitality sector."
Appleby advised AccorInvest Group on all aspects of the sale transaction. Partner Tammy Richardson-Augustus led the deal and was assisted by Partner Matthew Ebbs-Brewer and Senior Associates Josephine Noddings and Neil Molyneux.
AccorInvest is both owner and operator of a property portfolio of more than 850 hotels, owned and leased, located in 26 countries of Europe, Latin America and Asia, and has a long term partnership with Accor for the management of such assets to assure continual enhancement of its hotel portfolio attractiveness and guest satisfaction.
Accor Group, the owner of Fairmont brand, is a global leader in augmented hospitality. Accor unique and unmatched experiences in 4,900 hotels, resorts and residences in 110 countries. For more than 50 years, AccorHotels has combined the full breadth of its hotel know-how in an incomparable collection spanning from luxury to economy brands.