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FRHI Hotels acquires Claremont Hotel in Calif.

The 279-room Claremont Hotel Club & Spa in Berkeley, Calif., has been sold to FRHI Hotels & Resorts, parent firm of the Fairmont Hotels brand, and investment banker Richard Blum. The sale price was not disclosed but was speculated to have been $155 million, or $555,000 a room. The iconic property is slated to be renovated and rebranded as a Fairmont hotel. Read the Travel Weekly story here

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