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Patava to Retire from Fairmont Hotels

Fairmont Hotels & Resorts Inc announced that M. Jerry
Patava, Executive Vice President and Chief Financial Officer, has decided
to retire from Fairmont. Mr. Patava has agreed to continue in his role
until January 1, 2005 in order to allow for an orderly transition period.
During this time, Fairmont will be seeking to appoint a new CFO.
William R. Fatt, Fairmont’s Chief Executive Officer, said, “Jerry’s
efforts have been critical to the continuing development of our Company.
In 1990, Jerry joined Canadian Pacific Limited, Fairmont’s predecessor
company, as Treasurer. In 1998, he became CFO of Fairmont, and has been
instrumental to the Company during its most significant period of growth,
including the successful launch as a public company. On behalf of everyone
at Fairmont, I would like to express my sincere appreciation to Jerry for
his many years of service to the Company.”