>Fairmont Raffles IPO in the cards

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>Four years after being taken private in a $3.3-billion buyout, the iconic Fairmont hotel chain is on its way back to public ownership.

Saudi billionaire Prince Al-Waleed bin Talal sold a stake in Fairmont Raffles Holding International on Monday, and used the deal to announce (on Bloomberg Television) that the company will go public again in two to three years.

Fairmont Raffles, once part of the Canadian Pacific conglomerate, manages the railway hotels that dominate downtowns in major Canadian cities, including Vancouver, Edmonton, Calgary, Toronto and Montreal. The chain was purchased in 2006, a year that saw a raft of private equity takeovers that also included a buyout of Four Seasons Hotels Inc.

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