TORONTO, Dec. 9 /PRNewswire-FirstCall/ -- The Board of Directors of Fairmont Hotels & Resorts Inc. (FHR)(TSX/NYSE: FHR) has increased the semi- annual dividend from two cents (U.S.$0.02) per share to three cents (U.S.$0.03) per share on the outstanding common shares, payable on January 28, 2003, to holders of record at the close of business on December 27, 2002. The decision to increase the dividend reflects FHR's confidence in the company's fundamentals, financial strength and outlook.
About Fairmont Hotels & Resorts Inc.
FHR is one of North America's leading owner/operators of luxury hotels and resorts. FHR's current portfolio consists of 80 luxury and first class properties with more than 31,000 guestrooms in Canada, the United States, Mexico, Bermuda, Barbados and the United Arab Emirates. It holds an 83.5 percent controlling interest in Fairmont, North America's largest luxury hotel management company.
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