A method of preparing a fresh catalyst comprises impregnating a metal to a catalyst support to produce an impregnated catalyst, dispersing the metal in the impregnated catalyst to produce an impregnated, dispersed catalyst, contacting the impregnated, dispersed catalyst with an activating composition to produce an impregnated, dispersed, activated catalyst, and thermally treating the impregnated, dispersed, activated catalyst to produce the fresh catalyst wherein the activating composition is in the gas phase.