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Fairmont Poised for Next Chapter of Growth

In a continued effort to grow
its luxury brand, Fairmont Hotels & Resorts, today announced a new development structure
that is intended to accelerate growth through future acquisitions, joint
ventures and new development opportunities. In response, William Fatt,
Chief Executive Officer of Fairmont, is pleased to announce the
appointment of two seasoned industry executives who will be responsible
for the Company’s growth. Tom Storey will take on the new role of Executive Vice President,
Development and will work alongside Fatt in Toronto to further define and
execute Fairmont’s growth strategy. Along with his new responsibilities,
Storey will continue to oversee the Company’s vacation ownership division,
but will relinquish his duties relating to sales and marketing.

Prior to this appointment, Storey served as Fairmont’s Executive Vice
President, Business Development and Strategy and has sat on the Company’s
investment committee for the past four years. Previously, he held senior
management positions with a number of U.S. lodging companies including
Marriott, Doubletree, Radisson and Promus, where he was involved in brand
expansion and major corporate transitions. Storey holds a Master’s of
Business Administration degree from Cornell University and a Bachelor’s
degree in economics from Bates College.

With several international projects currently under development and a
number of strategic partners located abroad, John Johnston will take on
the new position of Executive Vice President for Europe, Africa and the
Middle East. Also reporting to Fatt, Johnston will be responsible for
managing Fairmont’s overseas operations and the brand’s development
opportunities in these regions.

Johnston holds a degree in Hotel Administration from the United Kingdom’s
University of Birmingham and is a veteran hotelier who has worked with
other hotel companies including Four Seasons Hotels and Resorts and Loews
Hotels. Most recently, Johnston was Fairmont’s Executive Vice President,

“This new structure underscores our commitment to growth and increased
penetration in key U.S. and international markets,” says Fatt. “I have
great confidence in these two professionals and trust their expertise will
increase and enhance Fairmont’s global brand presence.”