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HOTEL EXECUTIVE

Fairmont Raffles Names SVP, Development

Company Names James Kaplan SVP, Development for Europe, Africa and Middle East as it Continues Aggre

. October 14, 2008

TORONTO, Canada, October 11, 2007. With a strong mandate to accelerate portfolio growth, James Kaplan has been appointed Senior Vice President, Development, Europe, Africa and the Middle East (EAME), based in FRHI's regional London office. As the latest addition to FRHI's development team, Kaplan' primary focus will be on brand expansion for the company's three hotel brands, Fairmont Hotels & Resorts, Raffles Hotels & Resorts and Swiss^otel Hotels & Resorts.

'There are abundant growth opportunities throughout Europe, Africa and the Middle East for our international brands,' said Tom Storey, Executive Vice President, Development, FRHI. 'Adding a seasoned professional like James strengthens our development effort and provides us with the leadership we are looking for to support our growth objectives in this dynamic region.'

James brings over 20 years of hotel real estate and development experience to this position. Prior to joining FRHI, he was Vice President, Business Development & Planning - EAME, for InterContinental Hotels & Resorts where he was responsible for directing the development of the InterContinental brand in EAME. In 2002, James joined Kerzner International Inc. where he held progressive positions including Vice President, Development Asia/Pacific and the Middle East and Senior Vice president, Global Business Development. He also served as Vice President, Lodging Development for Marriott International Inc.

Kaplan will lead an experienced development team based in Europe and the Middle East who will be focused on advancing FRHI's growth strategy, which is driving considerable opportunities for all of the company's brands.

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