I know the "in the know" people are predicting farther west, so this is probably wrong, but who owns the lots on the corner of 17th and Macleod Tr. North bound?
Rendering has a one way street in front of it, and an open plaza type road/side walk across the street from it, albeit it renderings can be really off in that regard. I still think its by the new arena, but given the chatter in this thread, this is west of that, albeit it not as far west as the rumors.
The idea of a Fairmont being on 17th, or anywhere in the Beltline west of Macleod Tr northbound, with the except of 1st St SW, seems crazy to me, it just doesn't seem fancy enough (whatever the heck I mean by that). The area around the new Scotia Place seems like a way better fit, particularity when the Rivers Master Plan calls out hotels in that area.
Also... no one can identify the buildings beside it in the render, either its a new development area (cough rivers district near arena), render is wrong (entirely possible) or they are building a wide block, potentially going for possibly a disjointed look - depending what the top levels and higher quality renders look like