Seattle's Olympic is First Amongst Fairmont's 50 Worldwide Hotels

Named 2006 Hotel of the Year

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. October 14, 2008

SEATTLE, WA, February 13, 2007. Fairmont Hotels & Resorts announced the Company Award Winners for 2006. The Fairmont Olympic Hotel was recognized for not one, but two prestigious awards, including the coveted 2006 Hotel of the Year. The Hotel of the Year recognizes best overall operating performance excellence with criteria that includes improvement, consistency and achievement in the areas of colleagues, guests, RevPar and EBITDA. The hotel was also recognized for the Company's "Ideas Count" category for an innovative approach to solve a colleague issue.

Establishing itself as a market leader in the region, The Fairmont Olympic Hotel's RevPar Index growth and overall financial performance in 2006 were key success factors, supported by outstanding results in colleague and guest satisfaction surveys, such as J.D. Power and Richey International. The Hotel also received its 23rd consecutive AAA Five Diamond award in 2007, again establishing it as Seattle's premier luxury hotel for service, amenities and d'ecor.

"Being acknowledged as Fairmont Hotels & Resorts' Hotel of the Year shows the passion and commitment The Fairmont Olympic Hotel and our colleagues have in achieving outstanding results," adds General Manager Dennis Clark of The Fairmont Olympic Hotel. "In the four short years that the hotel has been a Fairmont property, our hotel was singled out as having delivered outstanding results for all of our constituents. We have turned moments into memories for our guests and have run a successful business as well. It is a privilege to be able to lead such a fine team."

The Fairmont Olympic Hotel achieved exceptional results in the following areas to be recognized as the company leader:

---|Competitive RevPar (Revenue per available room) Index Improvement of 250 basis points

---|EBITDA (earnings before interest, taxes, depreciation and amortization) - Growth year-over-year of 28.3%

---|J.D. Power Survey - Guest Overall Satisfaction was #1 in the Company

---|J.D. Power Meeting Planner Survey - In the top five in the Company

---|Richey International Benchmarking Standards - #1 in the Company

---|Employee Engagement Survey (EES) - Continued outstanding performance review from colleagues

Fairmont Hotels & Resorts "Ideas Count Program and Awards" encourages colleagues to share ideas, to foster an environment of creative thinking and to enhance our business. Ideas Count asks colleagues to consider the possibilities by constantly asking "what if?" and then turning ideas into reality. All implemented ideas are posted on the Fairmont Hotels & Resorts' internal Company website, recognizing those colleagues whose ideas have made a positive impact.

In 2006, The Fairmont Olympic Hotel was recognized for the following idea:

Innovation was the inspiration for the Housekeeping Mobile Pack, an idea that provides a new approach to daily tasks. Designed to create a seamless experience for guests, while simultaneously developing an improved work environment for colleagues, the easy-to-maneuver mobile packs contain all the supplies needed for guest room cleaning. This technique is improving health and safety for all room attendants and eliminating the need to purchase heavy, bulky carts often seen in other hotels' guest corridors. All room attendants are trained on how to use the pack, best ways to enter guest rooms and how to store packs at the end of the day, ready for use by the next colleague. The result has significantly increased colleague morale, while making the guestroom cleaning process more efficient. As a by-product, improved control of supplies has been tracked and the need to carry buckets and caddies has been eliminated, reducing physical stress on the colleague.