Fairmont St Andrews bought by Hong Kong investors

One of Scotland's most prestigious golf resorts has been sold to Hong Kong-based investors.

Fairmont St Andrews said its holding company had been bought by a consortium led by Great Century for an undisclosed sum.

French hospitality group Accor will continue to operate the resort under a long-term management agreement.

The 520-acre property includes a 212-bedroom hotel and two championship golf courses.

The purchasers said they were "focusing on global investments within the golf and hospitality industries".

Great Century co-chairman CYM Chan said: "As a member of The Royal and Ancient Golf Club and a passionate golfer with over 30 years' experience in the golf and hospitality industries, it is a privilege and an honour to participate closely in the future enhancement of this great property at St Andrews, Scotland, the home of golf."

Fairmont St Andrews will host the final qualifier for the 2020 Open Championship at Royal St. George's Golf Club.