Fairmont Hotels & Resorts Inc. Declares Dividend

TORONTO, Jun 10, 2002 /PRNewswire-FirstCall via COMTEX/—The Board of Directors of Fairmont Hotels & Resorts Inc. (“FHR”)(TSE/NYSE: FHR) has declared a semi- annual dividend of two cents (U.S.$0.02) per share on the outstanding common shares, payable on July 29, 2002, to holders of record at the close of business on June 27, 2002.
FHR is one of North America`s leading owner/operators of luxury hotels and resorts. FHR`s portfolio consists of 77 luxury and first class properties with approximately 31,000 rooms in Canada, the United States, Mexico, Bermuda, Barbados and the United Arab Emirates. It holds a 67 percent controlling interest in Fairmont Hotels & Resorts (“Fairmont”), North America`s largest luxury hotel management company. Fairmont manages 38 distinct city center and resort hotels such as The Fairmont San Francisco, The Fairmont Banff Springs, Fairmont Le Chateau Frontenac, The Fairmont Scottsdale Princess and The Plaza in New York City. FHR also holds a 100 percent interest in Delta Hotels, Canada`s largest first class hotel management company, which manages and franchises a portfolio of 39 city center and resort properties in Canada. In addition to hotel management, FHR holds real estate interests in 21 properties, two large undeveloped land blocks and an approximate 35 percent investment interest in Legacy Hotels Real Estate Investment Trust, which owns 21 properties.