TORONTO — Fairmont Hotels & Resorts has signed an agreement to manage a new, 347-guest room luxury hotel property in the coastal city of Baku, Azerbaijan, on the Caspian Sea.

The Fairmont Baku is being developed by Azinko Development M.M.C., a state-registered holding company based in the Azerbaijan Republic. Thomas W. Storey, president of Toronto-based Fairmont Hotels & Resorts, commented, “With the acceleration of Baku’s oil and natural gas-rich economy, and the growing demand for business and leisure hospitality, we feel Azerbaijan is an ideal fit for the Fairmont portfolio of distinctive properties.”

Scheduled for opening in early 2011, the new complex includes hotel, residential and commercial space, which will be linked by centrally located retail and leisure facilities.



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