Fairmont Hotels & Resorts

Fairmont Hotels & Resorts

April 21, 2008 08:04 ET

Thomas Storey Appointed President of Fairmont Hotels & Resorts

Storey to Lead Fairmont through Next Phase of Growth

TORONTO, ONTARIO--(Marketwire - April 21, 2008) - Fairmont Raffles Hotels International ("FRHI") today announced the appointment of Thomas Storey as President of Fairmont Hotels & Resorts. With 56 hotels in the portfolio today and an additional 20 properties to open over the next several years in destinations such as Shanghai, Abu Dhabi and South Africa, Mr. Storey will move into this role to lead Fairmont during an exciting period of global growth.

William R. Fatt, Chief Executive Officer of FRHI, said, "We are delighted to have Tom lead Fairmont at a time when our brand is enjoying growing momentum and generating an increasing number of new opportunities. We believe the combination of his strategic vision and brand experience will provide Fairmont with tremendous leadership as we strengthen our brand's position in the luxury segment."

This is a natural progression for Mr. Storey, who brings extensive experience and an impressive track record to this leadership position. He has invested much of his career developing and building brands and has been involved in many aspects of the hotel business, including sales & marketing, strategic planning and business development during his 25 years in the hotel industry.

Mr. Storey has been instrumental in FRHI's journey to becoming a leader in the global hotel industry. Over the last seven years, he has held a number of leadership roles within the company, most recently as Executive Vice President, Development, responsible for the growth of all three FRHI brands - Fairmont, Raffles and Swissotel. Under his guidance, FRHI's development pipeline has reached approximately 120 new projects at varying stages of development, including 50 new Fairmont projects, which is the most robust pipeline in the brand's history.

Effective May 1st, Mr. Storey will succeed Chris Cahill, who will focus his efforts on leveraging the company's infrastructure and capabilities in marketing and operations across all of the brands in FRHI's portfolio in his role as Chief Operating Officer. Mr. Cahill will work closely with Mr. Storey to further increase brand value, accelerate growth and drive hotel performance. FRHI's development function will be merged with real estate under the leadership of Michael Glennie, in his expanded role as President, Real Estate & Development.

Mr. Storey commented, "Fairmont offers guests over a century of hospitality expertise and a global portfolio of one-of-a-kind properties. I am excited to lead the team not only as we grow but also as we introduce our brand to new markets. Our hotels are integral parts of their communities, and we look forward to sharing more places to discover and celebrate travel with our neighbors and guests. "Prior to joining Fairmont in 2001, Mr. Storey 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. Mr. Storey holds a Master's of Business Administration degree from Cornell University and a Bachelor's degree in economics from Bates College.

ABOUT FAIRMONT RAFFLES HOTELS INTERNATIONAL

Fairmont Raffles Hotels International is a leading global hotel company with 88 hotels worldwide under the Raffles, Fairmont and Swissotel brands. The company also owns Fairmont and Raffles branded Residences, Estates and luxury private residence club properties.

ABOUT FAIRMONT HOTELS & RESORTS

A leader in the global hospitality industry, Fairmont Hotels & Resorts is an extraordinary collection of luxury hotels which includes iconic landmarks like The Fairmont Banff Springs, Fairmont Monte Carlo and New York's The Plaza. Fairmont hotels are one-of-a-kind properties where sophisticated travelers can discover culturally rich experiences that are authentic to the destination. Situated in some of the most exclusive and pristine areas in the world, Fairmont is committed to responsible tourism and is an industry leader in sustainable hotel management with its award-winning Green Partnership program. For more information or reservations, please call 1-800-441-1414 or visit www.fairmont.com.

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