On September 21, 1999, Prince Al Waleed bought out Olympus's share of the hotel, assuming 100% ownership. Between 1999 and 2001, Fairmont Hotels was significantly reorganized, with Prince Al Waleed only owning a 16.5% stake in the resulting company. On July 24, 2001, Fairmont Hotels bought a 50% stake in the hotel from Prince Al Waleed for $23 million. On February 11, 2003, Fairmont bought out Prince Al Waleed's remaining 50% stake in the hotel for a further $23 million. By this point, Prince Al Waleed's direct stake in Fairmont had decreased to 4.9%.