Graham Fair bought the land where the Fairmont San Francisco now stands, the first hotel to bear the Fairmont namesake. The nearly completed structure survived the earthquake of 1906. Although heavily damaged by the subsequent fires, the hotel was renovated under the eye of architect Julia Morgan and finally opened in 1907. In 1926, the Penthouse Suite was created with three secret passageways to access it. In 1945, the Fairmont San Francisco was acquired by Benjamin Swig. Beginning in the 1960s, the Swig family developed Fairmont into a small chain of luxury hotels throughout the United States. Operating as Fairmont Hotels Management, the hotel chain acquired, and built a number of hotel properties. The chain acquired the Roosevelt Hotel in New Orleans in 1965, renaming it the Fairmont Roosevelt, and then Fairmont New Orleans. The Fairmont San Jose was opened by the hotel chain in 1987. The company assumed management of the Plaza Hotel in New York in 1995 and purchased the Copley Plaza Hotel in 1996, renaming it The Fairmont Copley Plaza Hotel. By 1998, the company managed seven properties in the United States. In addition to those properties, the company also operated the Colony Square Hotel in Atlanta as Fairmont Colony Square Hotel from its opening in 1974 to 1977, and The Bellevue-Stratford Hotel in Philadelphia as Fairmont Philadelphia from 1979 to 1980. Merger (1999–2001) In April 1999, Canadian Pacific Hotels, Kingdom Hotels International and Maritz Wolff & Co. bought Fairmont Hotels Management L.P., with Canadian Pacific Hotels holding the majority of the shares (67%). In 2001, Canadian Pacific Limited, the parent company of both Canadian Pacific Hotels and Resorts, and Canadian Pacific Railway, was reorganized. During this reorganization, Canadian Pacific Hotels and Resorts was renamed to Fairmont Hotels and Resorts, using the name of the company it had purchased in 1999. The newly re-organized Fairmont company transferred several properties to its Delta Hotels subsidiary, although it retained most of the "signature" hotels and resorts under the new Fairmont banner. Later that year in October 2001, Canadian Pacific Limited spun off all of its subsidiary companies into separately traded "independent" companies, including Fairmont Hotels and Resorts. Companies like Fairmont Hotels and Resorts were split into smaller companies in a 2001 "starburst" move designed to increase the valuations of its individual divisions. Fairmont Hotel and Resorts (2001–present) In the early 2000s, Fairmont multiplied its openings in the United States.