August 30, 2011 · 0 Comments
Miami FL – August 30, 2011 – (www.hospitalitybusinessnews.com) Marriott wasn’t the only hotel company to lose a hotel last Sunday. Turnberry Associates, the owners of the Turnberry Isle Hotel & Resort, removed Fairmont as manager of the property.
There has been an ongoing battle between the two companies. In November 2009 the Miami Herald reported that Turnberry was ordered to pay Fairmont $6M in back fees and interest as a result of an arbitration case. At the center of the case was Turnberry’s accusation that Fairmont was mismanaging the money losing property.
“We’ve had a long relationship with Fairmont Hotels and thank the company for its efforts,” said C. Scott Rohm, president of Turnberry Associates’ Turnberry Hotel Group, in a statement. “However, it is time for a change at Turnberry Isle Hotel & Resort.”
The Wall Street Journal reported that on Sunday Turnberry filed a lawsuit in New York Supreme Court seeking a judge’s ruling on whether it must pay Fairmont a break-up fee for terminating Fairmont’s contract.