LifeCast, Fairmont Hotels & Resorts Sign Dual-Pronged Deal

DALLAS-A five-year, multi-million dollar pact is being kept in the family, with a Fairmont Hotels & Resorts affiliate investing $3 million while its parent has inked a service agreement with the same IT company.

Dallas-based LifeCast Inc. is a service provider for private clubs and members. It will use the financial support to continue launching new affiliate club Web sites and expand an on-line product and service suite. LifeCast services more than 950 of the nation’s private country clubs, yacht clubs and golf clubs, managing content, event calendars and dining and tee-time reservations.

The deal gives the company an indirect equity interest in LifeCast and also makes Chris Cahill, Fairmont president and COO, a director on the service providers board of directors. Fairmont is the largest luxury hotel management company in North America, with a collection of 36 distinctive hotels and 18,150 rooms throughout the US, Canada, Bermuda, Barbados and Mexico.