Above: the Fairmont Royal Pavilion Barbados Resort
By Alexander Britell
The Fairmont Royal Pavilion Barbados Resort has been sold, global real estate brokerage CBRE Hotels announced.
The 72-room hotel had recently undergone an extensive renovation programme. It is located on a 17-acre site.
London & Regional purchased the property from owner Ivanhoe Cambridge, with CBRE representing the seller.
“This property includes a 2.78-acre beachfront lot that is ripe for development,” said CBRE’s Christian Charre. “In addition, the Fairmont branding offers strong distribution channels and guests’ loyalty. Assets of this quality, prestige and reputation rarely come to market, and the property’s high underlying real estate value is supported by a robust residential market.”
The property is located in St James on Barbados’ Platinum Coast.
Charre, who is based in Miami, and London-based Owen-Pritchard represented the seller.
Terms of the deal were not disclosed.
The Fairmont is among CJ’s top-ranked Barbados hotels.