DURANGO, CO— Fairfield Resorts, a subsidiary of Cendant Corp. which focuses on the vacation ownership arena and has more than 365,000 vacation-owning households, has acquired the Durango Rio Grande Suites hotel here. Fairfield has begun a $1.2 million renovation of the property that will include resort-style upgrades to all 36 units, improvements to the public areas and the addition of an on-site sales center. The newly named Fairfield Durango in Historic Downtown is expected to open for occupancy this September, and situated adjacent to the Historic Durango and Silverton Narrow Gauge Train Depot. Fairfield Resorts has maintained an active sales presence in Durango since 1998, and began its 19-year history in southwest Colorado with Fairfield Pagosa, which opened in 1983. Occupancy remains high through all seasons at Fairfield Pagosa, noted the company, which expects its new Durango property to generate a similarly strong demand among its owner base.
