Mr. Clark brings more than 25 years of hospitality experience to this position.  He began his career with Hyatt Hotels in 1976.  In 1983, Mr. Clark joined Ritz Carlton Hotels where he held several progressive positions, including general manager of the Ritz Carlton, Double Bay Australia. He has also served on numerous opening and transition teams.  Mr. Clark joined Fairmont Hotels & Resorts in 1994 as director of food & beverage at The Fairmont San Jose and was promoted to Hotel Manager in 1997.  In 1998, he was appointed to his most recent position, general manager of The Fairmont Copley Plaza Boston.

At The Fairmont Copley Plaza, Mr. Clark represented the hotel in the community, while addressing the needs of the hotel�s 350 employees and countless guests.  Providing strategic direction and leadership, he has been essential to the hotel�s success and a catalyst for several ongoing restoration and renovation projects.
As general manager of The Fairmont Copley Plaza, Mr. Clark was an active member of the Massachusetts Lodging Association Government Affairs Committee and a board member of the Greater Boston Convention & Visitors� Bureau.  In addition, Mr. Clark served on the boards of the Friends of Copley Square and the Newbury Street League. He was a Boston Pops� Company Christmas at Pops board member and active with the United Way of Massachusetts Bay, serving as chairperson for the Greater Boston Hotel Tag Sale. Mr. Clark served on the Chamber of Commerce and remains involved with Skal and Le Chaine des Rotisseurs.

�We are thrilled to have someone with Dennis� expertise and skill join our team in the Pacific Northwest Region,� said Patrick Kelly, regional vice president and general manager of The Fairmont Hotel Vancouver.  �We are confident that Dennis� management style will be welcomed by the hotel�s employees and that he will continue to position The Olympic as Seattle�s preeminent hotel and celebrate its legacy as a special place in the heart of the community. We are delighted to add the new Fairmont Olympic Hotel, Seattle, to Fairmont Hotels & Resorts� roster of heritage properties.�

�I am honored to have been selected for the general manager position at The Fairmont Olympic Hotel, Seattle,� said Dennis Clark.  �While I will miss Boston and the team at the Fairmont Copley Plaza, I am excited about this new position and look forward to a smooth transition.�

Familiar with presiding over the historic Fairmont Copley Plaza, which, a grand dame in its own right, opened in 1912, Mr. Clark added, �I fully respect and appreciate Seattle�s affection for The Olympic and look forward to serving as steward of this historic property.�

Mr. Clark was raised in Reading, Massachusetts outside of Boston. He and his wife have two children, Shannon, 15, and Brianna, 11. A fan of outdoor pursuits, Mr. Clark has finished the Boston Marathon three times. He is looking forward to summitting Mt. Rainier.

Built in 1924 and located in the heart of Seattle�s fashionable Rainier Square neighborhood, this 450-room property blends classic ambience with state-of-the-art amenities. Minutes away from the city�s arts and entertainment districts, the AAA Five Diamond hotel features two restaurants and two lounges, a fully equipped fitness center with indoor pool, high speed internet access in all guestrooms, and more than 20,000 square feet of meeting and function space.

Legacy Hotels Real Estate Investment Trust Completes Acquisition Of The Olympic Hotel

Commenting on the transaction, Neil J. Labatte, President and Chief Executive Officer of Legacy, said, "We are pleased to be adding such a high- quality heritage asset to our portfolio. This Seattle hotel is an exceptional property in an important market and represents the qualities we seek for our portfolio of luxury hotels." Added Mr. Labatte, "This irreplaceable property is a natural complement to Legacy's strong Fairmont presence in both Vancouver and Victoria, British Columbia."

The purchase price for the property, including closing costs, was approximately US$105 million, or Cdn$145 million, and was financed through the assumption of an existing first mortgage of approximately US$44 million, or Cdn$61 million, and available credit facilities.

Fairmont has agreed to make a payment to Legacy to acquire the long-term
management contract. The terms of the agreement have been approved by Legacy's
Independent Trustees.

Legacy expects that this acquisition will enhance the portfolio's current performance and create long-term value for unitholders.

Built in 1924 and located in the heart of Seattle's fashionable Rainier Square neighbourhood, this 450-room property, including 209 suites, blends classic ambience with state-of-the-art amenities. Minutes away from the city's arts & entertainment districts, the AAA Five Diamond hotel features two restaurants and two lounges, a fully equipped fitness centre with indoor pool, high-speed Internet access in all guestrooms and 20,000 square feet of versatile meeting and function space.

About Legacy Hotels Real Estate Investment Trust

Legacy is Canada's premier hotel real estate investment trust with 22 luxury and first-class hotels in Canada and two in the United States, consisting of over 10,500 guestrooms. The portfolio includes landmark properties such as Fairmont Le Château Frontenac, The Fairmont Royal York, The Fairmont Empress and The Fairmont Washington, D.C.

M. Jerry Patava
Executive Vice President and 
Chief Financial Officer
Tel: (416) 874-2450
Website: www.legacyhotels.ca

Mike Taylor
Manager, Public Relations, Canada
Fairmont Hotels & Resorts
p. 416-874-2457  f. 416-874-2422
[email protected]
http://www.fairmont.com