For immediate release Exhibit No. 99.1

FAIRMONT HOTELS & RESORTS INC.
DECLARES DIVIDEND

TORONTO, June 3, 2004 — The Board of Directors of Fairmont Hotels & Resorts Inc. (“FHR”)(TSX/NYSE: FHR) has declared a semi-annual dividend of four cents (U.S.$0.04) per share on the outstanding common shares, payable on July 28, 2004, to holders of record at the close of business on June 28, 2004.

About Fairmont Hotels & Resorts Inc.

FHR is one of North America’s leading owner/operators of luxury hotels and resorts. FHR’s managed portfolio consists of 82 luxury and first-class properties with more than 33,000 guestrooms in the United States, Canada, Mexico, Bermuda, Barbados and the United Arab Emirates. It holds an 83.5% controlling interest in Fairmont Hotels Inc., North America’s largest luxury hotel management company, as measured by rooms under management. Fairmont manages 44 distinctive city center and resort hotels such as The Fairmont San Francisco, The Fairmont Banff Springs and The Fairmont Scottsdale Princess. FHR also owns Delta Hotels, Canada’s largest first-class hotel management company, which manages and franchises 38 city center and resort properties in Canada. In addition to hotel management, FHR holds real estate interests in 23 properties and an approximate 35% investment interest in Legacy Hotels Real Estate Investment Trust, which owns 24 properties.

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Contact:	Emma Thompson
	Executive Director Investor Relations
	Tel: 416.874.2485
	Email: investor@fairmont.com
	Website: www.fairmont.com