I have never stayed at the Fairmont.

I have stayed at the Palmer House a lot though. It is the most convenient hotel for where I need to be. As a Gold, you will get 2 bottles of water and executive lounge access. As for the lounge, there is a private bar and two areas to sit down. There are hot appetizers and crackers and cheese nightly from 5-7. The appetizers seem to be formerly frozen fare and pretty much uninspiring. Later in the evening, they put out mixed nuts (fair) and squares of fudgy chocolate cake (okay). The breakfast is also in the lounge-standard continental fare but they do have a waffle maker, which I enjoy. Overall, the lounge is nothing special and I think the best part of it is the unlimited non-alcoholic drinks-water, soda, juice, coffee, tea.