By Stephen Breen Canadian Pacific Limited, owners of the Fairmont Hamilton and Southampton Princess Hotels, is being broken up into five separate companies, it was announced this week.

But Hamilton Princess vice-president and general manager Michael Kaile said there will be no change for Bermuda and stressed: "It's business as usual.'' The Calgary-based company announced it is spinning off its five companies -- Canadian Pacific Hotels, Canadian Pacific Railway, CP Ships, PanCanadian Petroleum, and coal producer Fording.

Mr. Kaile told The Royal Gazette : "It is very much business as usual. The hotel company, as far as our employees, our guests and our vendors are concerned, will be dealing with exactly the same people.'' Mr. Kaile said the break-up was because the market was more impressed with focused organisations rather than conglomerates.

The company said after the shares of the companies had been distributed, Canadian Pacific Hotels will be the only significant business of Canadian Pacific Ltd.

Canadian Pacific Hotels manages 30,000 rooms and is the largest luxury hotel operator in North America.

Canadian Pacific president and chief executive officer David P. O'Brien said: "This reorganisation is the right step to take for our shareholders, for these five exceptional companies, and for the wider investment community.

"It will reward our shareholders now by unlocking the full value of each business, and in the future by providing them an excellent opportunity to participate in further growth and development of the businesses and their industries.''