Fairmont Deal May Raise Hotel Valuations: Analysts | reuters.com
NEW YORK (Reuters) - The takeover of Canada's Fairmont Hotels & Resorts Inc. (FHR.TO: Quote, Profile, Research) could raise valuations of other hotel companies' stocks, as investors speculate there could be more takeovers in the sector, analysts said on Monday. Fairmont said on Monday that Saudi Prince Alwaleed bin Talal and Colony Capital will pay $3.9 billion to buy the company -- a deal that richly values the Toronto-based chain and could do the same for its counterparts elsewhere.
