Fairmont Hotels & Resorts has signed a new property in Greece, the Fairmont Corfu Resort & Spa, slated to open in 2012. The 240-room Fairmont Corfu Resort & Spa is located on the Greek island of Corfu, on the eastern coast of the island, bordered by olive groves, cypress-forested areas and sandy beaches with views of the Ionian Sea and the surrounding mountains.

The property will feature six food and beverage outlets, 1,800 square meters of banquet and meeting space and a 1,500 square-meter Willow Stream Spa featuring 17 treatment rooms and health club. The complex will also include 10 Fairmont-branded residential villas, a beach club, a Tennis Academy and a marina.

Fairmont Corfu Resort & Spa will be north of the old city of Corfu, which was recently listed on the UNESCO's World Heritage List. Fairmont works in partnership with the World Heritage Alliance, a joint initiative of the United Nations Foundation and Expedia, Inc., to promote conservation, sustainable tourism, and economic development for communities located in and around World Heritage sites.

The project is being developed by Corfu Gardens SA, a subsidiary of Austria-based Akrin Holding GmbH. Akrin Holding's activities include commercial, residential and leisure developments in Russia, energy and logistics projects as well as investments in the Baltic region and Central Europe.

The resort will join Fairmont properties in the region including Fairmont Hotel Vier Jahreszeiten, Hamburg; Fairmont St. Andrews, Scotland; Fairmont Monte Carlo; London's Savoy, reopening next year following an extensive restoration and the future Fairmont Kyiv, Ukraine.

Thomas W. Storey, President, Fairmont Hotels & Resorts said, "The addition of Greece expands our European collection with a Mediterranean resort, a perfect complement to our portfolio. This allows us to provide luxury-seeking travelers with enriching and memorable experiences reflective of this very distinctive island destination."