Nice... But No More Than 3 Stars
When I entered the Fairmont Olympic hotel, my first thought was "wow, this place has some class!" On the way to our room, we visited the fitness center, which again was very well kept, well designed and lovely. Unfortunately, that's where the great experience stopped. Our room was musty, and was definately in need of some updates. Carpet seemed old, bedding was torn in places, and wallpaper was stripping. Shower water was normally lukewarm. We were so taken by the exterior and lobby of the hotel- but that was it. 
While this hotel has a lot going for it (GREAT service, good amenities), but we felt like we could have gotten more for our money by staying in a nearby 3/4 star hotel.