Fairmont Hotels & Resorts Acquires Remaining Interest In Management Company

Fairmont Hotels & Resorts Acquires Remaining Interest In
Management Company 


TORONTO, Aug. 25  /PRNewswire-FirstCall/ -- Fairmont Hotels & Resorts Inc.
("FHR") (TSX/NYSE: FHR) announced today that it has completed the acquisition
of the minority interest in the Fairmont management company from Maritz Wolff &
Co. for approximately $70 million.

Commenting on the transaction, William R. Fatt, FHR's Chief Executive Officer,
said, "We are pleased to now own 100% of the Fairmont management company as we
anticipate considerable growth for our luxury brand over the next several
years." Mr. Fatt continued, "Maritz, Wolff & Co. is a significant owner of
hotel real estate that we manage and will continue to be an important partner
for us in the future."

About Fairmont Hotels & Resorts Inc.

FHR is one of North America's leading owner/operators of luxury hotels and
resorts. FHR's managed portfolio consists of 82 luxury and first-class
properties with more than 33,000 guestrooms in the United States, Canada,
Mexico, Bermuda, Barbados and the United Arab Emirates. FHR owns Fairmont
Hotels Inc., North America's largest luxury hotel management company, as
measured by rooms under management, with 44 distinctive city center and resort
hotels such as The Fairmont San Francisco, The Fairmont Banff Springs and The
Fairmont Scottsdale Princess. FHR also owns Delta Hotels, Canada's largest
first-class hotel management company, which manages and franchises 38 city
center and resort properties in Canada. In addition to hotel management, FHR
holds real estate interests in 22 properties and an approximate 35% investment
interest in Legacy Hotels Real Estate Investment Trust, which owns 24
properties. 

DATASOURCE: Fairmont Hotels & Resorts Inc.



CONTACT: Emma Thompson, Executive Director Investor

Relations, Tel: [phone], Email: , Website:

http://www.fairmont.com/investor

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