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Keeping the Fairmont Current

The $200M that Woodridge Capital Partners and Oaktree Capital Management paid for the Fairmont Hotel is the bulk of the cash the new owners are going to spend on the hotel, but it's not all of it. "The rooms are in great condition, but part of being competitive in the hotel market is being current," Woodbridge Capital CEO Michael Rosenfeld told the Chronicle. The new owners plan to spend another $20 million renovating the hotel's 591 guest rooms. [SFGate/photo via Robert Pierce]