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Legacy Hotels Appoints Labatte As President And CEO |
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TORONTO, March 20, 2003 - Legacy Hotels REIT is pleased to announce the appointment of Neil J. Labatte as president and chief executive officer. In addition to this new role, Mr. Labatte will continue to hold the office of senior vice president, real estate for Fairmont Hotels & Resorts Inc. (“FHR”). |
In a move to reduce management overlap between Legacy and FHR, Mr. Labatte replaces Mr. William R. Fatt, who will continue to serve as a Legacy Trustee and also as FHR’s chief executive officer.
“Given Legacy’s revenue and asset growth since its inception in 1997, the Trustees felt it was important to have a CEO devoting the majority of his time to Legacy,” said Richard A. Goldstein, Legacy’s chairman. “An important part of this consideration was to ensure that the synergistic benefits associated with the relationship between Legacy and FHR remained intact.”
Joining FHR in December 1997 as vice president acquisitions, Mr. Labatte was subsequently appointed to his most recent position as president and chief operating officer, Legacy Hotels REIT in June 1999. Prior to this, Mr. Labatte, who possesses a Master of Science and Finance Degree from the University of Utah, guided Dallas-based real estate company, A.E.W Mexico, negotiating management and franchise agreements with Westin, Hilton, and Four Seasons/Regent in all the major Mexican urban and resort markets.
Legacy is Canada’s premier hotel real estate investment trust with 22 luxury and first-class hotels and resorts in Canada and one in the United States. The portfolio includes landmark properties such as Fairmont Le Chateau Frontenac, The Fairmont Royal York, and The Fairmont Empress. The management companies of FHR operate all of Legacy’s properties.
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