Growing a luxury resort portfolio

Western Canada

Oxford thinks in terms of decades, not years or quarters.  So, when we acquired a portfolio of seven Fairmont luxury hotels in 2006, we had a long-term vision.  Despite short term challenges due to the global financial crisis that hit after our acquisition, we remained true to our vision and conviction in the long-term value creation opportunities at these iconic assets.  We invested significantly to improve the guest experience and the hotels’ environmental sustainability. We activated and elevated spaces, upgraded technology, repurposed real estate, found operating efficiencies and introduced new revenue streams.  When international tourism rebounded, our hotels were ready to capture greater market share and outperform. In total, we’ve invested over CAD$500 million in property improvements.

 Further exemplifying the strength of our growing relationship with Fairmont and its parent Accor, in 2023 we acquired the iconic Rimrock Resort Hotel in Banff, to be managed by leading hospitality group Accor.  Signifying our long-term conviction in the sector, it solidifies Oxford’s portfolio as Western Canada’s pre-eminent resort hotel platform, providing valuable scale in the resort town of Banff.  As part of a significant investment by Oxford and our capital partner, The Rimrock will undergo a comprehensive top to bottom renovation to restore its iconic status and enhance the guest experience via significant improvements in service and product, providing significant value creation opportunity.

Three of the Fairmont properties were not aligned to our long-term strategy, so once we had increased occupancy and stabilized the income profile, we sold them. The four remaining properties are strategic long-term holds—Fairmont Banff Springs Hotel, Fairmont Jasper Park Lodge, Fairmont Chateau Lake Louise and Fairmont Chateau Whistler. They enjoy high barriers to entry, with three operating on protected lands in Canada’s National Parks and have over 100 years of history and memories in the hearts of travelers globally. They are also very strong performers, regularly operating at full occupancy and setting record high room rates. They are also among the most loved hotels in North America and part of the very fabric of Canadian history.

 Partnerships are an important part of Oxford’s business model, as is our commitment to a strategically diversified investment portfolio. In early 2019 the time was right to bring in a co-investment partner and redeploy some of our capital elsewhere in service of our global investment strategy.


We ran a closed and targeted recapitalization process with a small number of global institutional investors who all share our vision and commitment to drive long-term economic and social value. Five months after our first meeting, we agreed to sell a non-managing interest to a sovereign wealth fund and keep an interest to preserve equity exposure to the Fairmont assets we value so deeply.   


The Rimrock represents Oxford’s first hotel acquisition since 2014 and provides Oxford valuable scale in the resort town of Banff, one of the best performing lodging markets in North America driven by its wide range of nature-based activities and its unique supply and demand dynamics. Located within Banff National Park, which attracts over 4 million international visitors every year, its unique location creates a high barrier to entry with new development limited to protect the surrounding natural environment.  Additionally, the deal builds on Oxford’s existing partnership with an important global like-minded partner.

Setting a strategy and acting with conviction unlocks opportunities, and consistently acting in the best long-term interests of customers, the community and partners pays off for everyone.

 Our team has stayed committed to the vision for the properties and investments since day one. We made choices with a long-term view—committing to capital investments when the market downturn would have made others shy away and fostering a culture where experimentation is encouraged, and nobody loses sight of the importance of delighting every customer.

 The same is true in selecting co-investment partners, where we prioritize people who think and act like us, who want to grow with us, and who share the financial capacity and culture to bring a long-term vision to life.

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Across our global portfolio, we connect people to exceptional places. We're proud that our properties prioritize excellence and the safety, health and well being of our customers and communities.

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