Fairmont Hotels & Resorts enters South Africa through its strategic alliance with IFA Hotels & Resorts

IFA Hotels & Resorts has shown our commitment to South Africa in announcing our latest achievement.

Fairmont Hotels & Resorts - one of North America’s largest luxury hotel groups - are to manage our new resort in Zimbali. This follows our strategic announcement in August 2005 to list on South Africa’s Johannesburg Stock
Exchange (JSE).

Talal Al Bahar said “IFA Hotels & Resorts has again delivered on our commitment to South Africa by appointing Fairmont to manage our new Zimbali development.We are certain they will bring the superb standard of hospitality for which they are known to our latest South African resort. Fairmont's appointment is consistent with our vision to become one of the leading foreign tourism and property investors in Africa. It is also a clear signal to investors that IFA Hotels & Resorts intends to maintain our superior quality offering by partnering with some of the biggest and most respected names in the business.”

With a project value in excess of US$ 250 million, The new Fairmont Zimbali will create over 2,000 jobs for KwaZulu Natal province. The development will consist of a luxury five star hotel, a golf course, spa and vacation ownership products, including a private residence club, Fairmont Heritage Place. Fairmont Zimbali will offer a range of ownership alternatives to suit a broad spectrum of investors.

"We believe Fairmont’s diversity and vast experience will bring a new dimension to the South African hospitality sector, creating the basis for other investments with Fairmont in South Africa to join its fast growing international network of luxury resorts,” said Werner Burger.