Fantastic hotel and perfect location
My husband and I just got back from a week long stay at the Fairmont Olympic hotel in Seattle. The hotel is beautiful and very old fashioned looking. Loved the old world look. The staff was outstanding and the restaurants were pretty good, too. It is a bit on the expensive side, but between the location and the helpfulness of the staff, we think it was well worth it. We would definitely stay there again. The location is very central in downtown Seattle and we walked almost everywhere. The monorail is only a couple blocks away and the waterfront is a within easy walking distance as well (and down hill for the trip there). 
Since we were staying for a week, we opted for one of the executive suites. It was really nice to have a separate living area for when we wanted to relax a bit in the room before heading out for our next activity. The bed was quite comfortable, as well.
A couple evenings, we relaxed for a couple drinks at The Terrace, which we quite enjoyed. My husband loved the Baja Blue Martini and I fell in love with the Lavender Martini. Very tasty! They even have live piano music in the evenings Thursday - Saturday.