- Colorado Resort Expands Hotel Company’s Presence in World-Class Ski Destinations -

TORONTO, April 3, 2008 – Fairmont Hotels & Resorts is pleased to announce the Fairmont Vail, a new resort in Colorado developed by HCT Development.  The resort is slated to open in 2011 in time for the winter season.  

The luxurious 128-room resort, located in one of the world’s most renowned ski destinations, will also feature 73 Fairmont Residences as well as Fairmont Heritage Place, the company’s private residence club homes.  Amenities for guests to enjoy include a selection of dining outlets and a signature 10,000 square foot Willow Stream spa.  In addition, the resort will offer 9,500 square feet of function space, including a 3,000 square foot ballroom.

Chris Cahill, President and Chief Operating Officer of Fairmont Hotels & Resorts, said, “The opportunity to offer our guests and homeowners another world-class ski resort is a tremendous one and we are delighted to be working with HCT Development to create a new, distinctive luxury product in Vail.”  Cahill continued, “We are excited to bring our expertise in managing mountain properties to a new destination in the United States.”

“Vail, Colorado is truly a one-of-a-kind setting and Fairmont Hotels & Resorts is a unique organization that will lend its prestige, reputation and hospitality acumen to this outstanding destination,” said HCT Development, LLC President, T.J. Brink. “HCT Development is proud to partner with an organization as well managed and well respected as Fairmont Hotels & Resorts.”

In addition to being one of the preeminent downhill ski destinations in the world, Vail features an expansive landscape affording a rich variety of recreational experiences including Nordic skiing, snowboarding, dog-sledding and heli-skiing in the winter, and hiking, biking, rafting/kayaking, horseback riding, fishing, golfing, and rock climbing in the summer months.

Additional Fairmont ski locations include The Fairmont Banff Springs, The Fairmont Chateau Whistler, The Fairmont Chateau Lake Louise, The Fairmont Jasper Park Lodge, Fairmont Tremblant and Fairmont Heritage Place Franz Klammer Lodge in Telluride, Colorado. 

About HCT Development, LLC
HCT Development, LLC based in Minneapolis, Minnesota was founded in October 2006 to acquire and redevelop the Evergreen Lodge at Vail [Fairmont Vail]. The principals of HCT Development have varied and extensive backgrounds in commercial real estate development, financing, investment and hospitality ownership, operations and management.  The total transaction volume of projects in which the principals of HCT Development have been involved is in excess of US$1.0 billion dollars.  The principals of HCT Development are currently involved in different phases of the development and construction of a number of projects throughout the United States.