No real estate or equity purchases by Fairmont are anticipated under the terms of the agreement. Telephone the Burlington Elks Lodge for information regarding availability, menu options and pricing. This partnership with Fairmont allows us to raise our owner's experience to an even higher level, further increasing the values of our memberships," said Houston. "Franz Klammer Lodge has always been and will continue to be about providing the best luxury second home experience for our owners and their guests. "This relationship with Franz Klammer Lodge is an excellent strategic choice for our company, a strong fit for our brand and an important milestone in the growth of our Fairmont Heritage Place collection," Storey noted. Tom Storey, Executive Vice President Development, Fairmont Hotels & Resorts stated, "Fairmont is recognized for our history and expertise operating in Canada's top ski resorts including Whistler, Banff-Lake Louise and Tremblant." The agreement with North America's leading private residence club represents Fairmont's first U.S. Franz Klammer management anticipates a limited supply of luxury rentals being offered that will demand some of the highest nightly rates in the region. Benefits of the agreement include membership in the top tier of the Fairmont President's Club loyalty program, trading privileges at other Fairmont Heritage Place destinations as well as the company's collection of world-renowned hotels in eight countries, and additional resources that are vital to success in an increasingly competitive market. "We are extremely excited about our association with this premier hospitality brand and what it brings to our property and the community," said Rick Houston, General Manager of Franz Klammer Lodge. Franz Klammer Lodge, one of the forerunners in the private residence club market, will be affiliated with Fairmont Heritage Place, the luxury hotel brand's new private ownership division, which opened in Acapulco last September and is currently being planned for Barbados. (Fairmont) (TSX/NYSE: FHR) and the Club Telluride Owners Association Inc, which operates as Franz Klammer Lodge, today announced the completion of a management agreement. TELLURIDE, Colorado - February 2, 2005-Fairmont Hotels & Resorts Inc.
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