Fairmont Hotels warns profits likely hurt by terrorist attack impact

September 14, 2001
Source: freerealtime
Original story - link verified on September 14, 2001

Fairmont Hotels & Resorts Inc. (TSE: FHR) warned Thursday that the hotel industry - and the company - will likely be hurt by reduced travel following the terrorist attacks in the United States. Fairmont, soon to be spun off from its parent company, conglomerate Canadian Pacific Ltd. (TSE: CP), said it will take some time to evaluate the effect on travel and the hotel industry. The company's shares fell $7, or 22 per cent, to $25 on the Toronto Stock Exchange as trading resumed on Thursday morning.

Related stories: Post-September 11 tourism recession | Fairmont