R&A member leads deal

Hong Kong golf fan buys Fairmont St Andrews

Driving a good deal: Fairmont St Andrews in Fife

One of Scotland best-known hotels, Fairmont St Andrews, has been snapped up by Hong Kong company seeking out global investments in the golf and hospitality industries.

Acquisition of St Andrews Bay Development is Great Century’s first investment and was led by its co-chairman Dr CYM Chan who is a member of The Royal & Ancient Golf Club.

Dr Chan describes himself as “a passionate golfer with over 30 years’ experience in the golf & hospitality industries.”

He said: “It is a privilege and an honour to participate closely in the future enhancement of this great property at St Andrews, Scotland, the Home of Golf.”

Dr. Peter Lam, chairman of Lai Sun Group and co-chairman of Great Century, added: “I am extremely confident about the future potential that the Fairmont St Andrews holds. I am proud to be a partner in this long-term investment.”

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