Fairmont Sells Seven Canadian Hotels to OMERS

Fairmont Hotels & Resorts completed the sale of seven Canadian hotels to Oxford Properties Group, the real estate division of the Ontario Municipal Employees Retirement System, on September 29, 2006 for an undisclosed price. This first-time hotel investment by OMERS includes some of Canada's most historic and landmark hotels, including The Fairmont Banff Springs, The Fairmont Chateau Lake Louise and The Fairmont Jasper Park Lodge, as well as The Fairmont Chateau Whistler, The Fairmont Vancouver Airport, The Fairmont Le Château Montebello and The Fairmont Kenauk at Le Château Montebello. Fairmont will continue to manage these hotels under long-term management agreements and these hotels will retain the Fairmont brand. According to industry experts, the sale is one of the most significant hotel industry transactions in Canadian history.

Oxford's legal team was led by John Wallace, senior vice-president, legal and corporate secretary and Devon Jones, vice-president, legal. The OMERS legal team was led by Selma Lussenburg, senior vice-president and general counsel, with OMERS lawyers Christine Sharp and Walter Lehman. Oxford was assisted by Goodmans LLP with a team that included Juli Morrow, Ira Berg, Andrew Wiseman, Douglas Bolton and Maria Davidson (real property), Jay Feldman, Bob Vaux, Francesca Guolo, Sarah Diamond, Simon McGrath (corporate), Joe Morrison (employment), Jana Steele (pensions), Scott Bell (research) and by Borden Ladner Gervais LLP (Montreal) with a team that included Yves Dubois, Catherine Guertin and Monica Pukall and by Burnet, Duckworth & Palmer LLP with a team that included Craig Hill and Annette Lambert. Osler, Hoskin & Harcourt LLP provided tax, pensions and corporate advice to Oxford with a team that included Jack Silverson, David Tetreault and Cassandra Priede (tax), Nancy Chaplick (pensions), Chris Portner, John Groenewegen and Osman Aboubakr (corporate) and Shelley Obal (research).

Fairmont's legal team was led by Terence Badour, executive vice-president, law and administration, with assistance from Barbara Kilner, Thomas Griffiths and Paula McMullan of Fairmont's legal department. Fairmont was assisted by McCarthy Tétrault LLP with a team that included Godyne Sibay, Gordon Sato, Bram Green, Paul Jachymek (real property), Gabrielle Richards, Brian Pel, Jim Warnock (tax), Philip Moore, Blair Cowper-Smith, David Woollcombe, Iain Morton, Gordon Baird (corporate), Paul Boniferro (employment), Greg Winfield (pensions) Danielle Bush and Christine de Lint (intellectual property) in Toronto, Craig Shirreff, David Crane and Jennifer Horneland in Vancouver, Gene Durand and Crispin Arthur in Calgary and Louis-Martin Dubé and Annie Gagnon-Larocque in Montreal and by Heller Ehrman with a team that included Brian Smith, Kendall Bodden, Don Percival and Maya Solo.