A historic landmark, the hotel was built on the original site of the University of Washington's campus.

[3] After World War I, Seattle's Chamber of Commerce appointed a committee to work toward the goal of bringing a world-class hotel to the city.

The committee identified an undeveloped portion of the city's Metropolitan Tract, a downtown area covering four blocks, as an ideal location for a new hotel.

[4] The university had relocated to a campus north of Portage Bay in 1895, but still owned the downtown tract of land.

At the same time, they approved a plan to demolish the Metropolitan Theatre, around which The Olympic Hotel had been built.

[5] Four Seasons undertook a $60 million renovation,[10] which included the conversion of more than 750 small guest rooms into 450 updated units.

[11] In the mid-1990s, the University of Washington sold a 64 percent stake in the hotel to Chicago-based real-estate investment firm JMB Realty.