CP REBRANDS LUXURY LINE-UP After purchasing Delta Hotels and Resorts last spring and Princess Hotels last summer, Toronto-based Canadian Pacific Hotels has taken a bold step toward global brand recognition for its high-end properties: It's buying one of the most respected names out there.

This spring, CPH completed an agreement in principle to combine forces with Fairmont Hotel Management, which manages six distinctive properties with the Fairmont name (including those in San Francisco, New Orleans, and Chicago) as well as The Plaza in New York City. CPH will own 67 percent of the new company, called Fairmont Hotels and Resorts. The remaining interest will be held by Kingdom Hotels (USA) Ltd. and Maritz Wolff & Co., current owners of Fairmont Hotel Management.

Six CPH hotels will be moved to the Delta brand (The Prince Edward, The Lodge at Kananaskis, Hotel Halifax, Hotel Toronto East, Calgary Airport Hotel, and Hotel Beausejour), while the remainder, those with a more upscale profile, will become Fairmonts.

The 35 hotels in the new Fairmont collection will include such landmark properties as Le Chateau Frontenac, Banff Springs, Hotel Vancouver, and the Southampton Princess. The deal is expected to close this summer.