Four Seasons Hotels and Resorts

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Four Seasons Hotels Limited
Four Seasons Hotels and Resorts
Company type Private
Industry Hospitality
Founded21 March 1961;63 years ago (1961-03-21)
Founder Isadore Sharp
Headquarters
Toronto, Ontario
,
Canada
Number of locations
129 properties in 44 countries
Key people
Isadore Sharp (Chairman)
Alejandro Reynal (CEO)
RevenueIncrease2.svg US$4.3 billion (2015) [1]
Owner Cascade Investment
Kingdom Holding Company
Triples Holding
Number of employees
45,000 (2018) [2]
Website www.fourseasons.com

Four Seasons Hotels Limited, trading as Four Seasons Hotels and Resorts, is a Canadian luxury hotel and resort company [3] headquartered in Toronto, Ontario, Canada. [4] Four Seasons currently operates more than 100 hotels and resorts worldwide. [5] Since 2007, Bill Gates (through Cascade Investment) and Prince Al-Waleed bin Talal (through Kingdom Holding Company) have been majority owners of the company. [6] As of January 2022, Cascade Investment owns 71.25% and Kingdom Holding Company owns 23.75% of the hotel and resort company. [7]

Contents

History

Four Seasons Place together with a 6-storey atrium mall in Kuala Lumpur, Malaysia. Four Seasons Place as seen from Vipod Residences.jpg
Four Seasons Place together with a 6-storey atrium mall in Kuala Lumpur, Malaysia.
Four Seasons Hotel and Residences in Yorkville, Toronto Four Seasons under construction February 2012.jpg
Four Seasons Hotel and Residences in Yorkville, Toronto
Interior of the Four Seasons Hotel and Resort in Macau The Four Seasons Hotel & Resort Macau Interior Void.jpg
Interior of the Four Seasons Hotel and Resort in Macau
Four Seasons Hotel and Tower in Miami, Florida Four Seasons Hotel Miami east poolside view.jpg
Four Seasons Hotel and Tower in Miami, Florida

Canadian businessman Isadore Sharp founded Four Seasons in 1960. While a young architect working for his father, Sharp designed a motel for a family friend; its success motivated him to try creating his own hotel. He bought a large parcel of land in a run-down area of Toronto and planned a stopover for business travelers; the Four Seasons Motor Hotel opened in 1961 with initial investors, Murray Koffler, Fred Eisen, and Eddie Creed. [8]

Four Seasons built more hotels, including the 1963 Inn on the Park, a $4 million two-story resort hotel in suburban Toronto that housed Canada's first discothèque. [9] [10]

Upscale luxury became part of the brand when the company expanded to London. When a developer approached Four Seasons about building a hotel in London, Sharp planned it to compete with the city's old-world, elite hotels, such as Claridge's and The Connaught. [4] The Inn on the Park hotel in London opened in 1970. [5]

The lead consultant was the architecture firm Aedas. [11]

In 1974, cost overruns at the Four Seasons Hotel Vancouver nearly led the company into bankruptcy. As a result, the company began shifting to its current, management-only business model, eliminating costs associated with buying land and buildings. The company went public in 1986. [5] In the 1990s, Four Seasons and Ritz-Carlton began direct competition, with Ritz-Carlton emphasizing a uniform look while Four Seasons emphasized local architecture and styles with uniform service; in the end Four Seasons gained market share. [5]

Built in 1986, [12] [13] Four Seasons Hotel Austin is a nine-story hotel on 2.3 acres (0.93 ha) of land on the Lady Bird Lake's north shore. [14] In 1997, Four Seasons Hotel Austin became the first hotel to have "a high-speed wireless Internet network" after Wayport, Inc. set it up there for testing wireless Internet networks. [15] The hotel hosted Queen Elizabeth II in 1991 when she visited Texas. [16] It was acquired by Anbang Insurance Group from the Blackstone Group for $359.7 million in 2016. [14]

In 1992, Four Seasons acquired Regent Hotels & Resorts. [17] Most Regent hotels that were in the pipeline at the time, such as the ones in Bali and Istanbul, were opened as a Four Seasons, while the existing portfolio, such as the Beverly Wilshire, were allowed to temporarily retain the Regent brand until they have achieved the criteria to become a Four Seasons. [18] Carlson acquired the rights to develop new hotels under the Regent brand in 1998, and by the mid-2000s, most of the older Regent properties have rebranded into Four Seasons, with the notable exception of Regent Singapore. In the wake of Regent's purchase by IHG Hotels & Resorts in 2018, Four Seasons announced that it would cease its management of Regent Singapore, therefore ending the company's 26-year-long association with the name. [19]

Economic downturns in the early and mid-2000s affected the company. When the September 11 attacks caused the collapse of the travel industry, Four Seasons refused to cut room prices in order to preserve the perceived value of the brand, which caused tension with property owners who were losing money. [5] The company recovered, and in 2007 it agreed to a buyout by Microsoft Chairman Bill Gates and Prince Al-Waleed bin Talal of Saudi Arabia for $3.8 billion. [20] The pair own 95 percent of the company, in equal shares, and Sharp owns the rest. [5]

Challenges returned again during the financial crisis of 2007–2010. The company made the first corporate layoffs in its history, cutting 10% of its Toronto workforce. [5] In April 2010, after a year-long dispute with Broadreach Capital Partners and Maritz, Wolff & Co., owners of the Aviara resort near San Diego, an arbitration panel ruled that, while both parties contributed to the demise of the business relationship, Four Seasons had not violated its management agreement. The arbitrators ordered Broadreach to pay Four Seasons to terminate the contract." [21] The resort is no longer a Four Seasons.

Four Seasons has continued to add more hotels and resorts to its portfolio, notably in China. It opened a new hotel in Hangzhou in 2010 and Guangzhou, Beijing, and a second property in Shanghai in 2012. In India, it has two hotels one in Mumbai and other one in Bangalore. [22] In 2013, it opened its first hotel in Russia in the Lobanov-Rostovsky Palace in St. Petersburg, and later opened a second hotel in Moscow. In Indonesia, it has one hotel in Jakarta and another two in Bali. In October 2012, Four Seasons opened a new 259 room Toronto hotel in Yorkville, designed by internationally known design firm Yabu Pushelberg. The hotel includes an upscale restaurant led by celebrity chef Daniel Boulud. It was hailed by The Globe and Mail as "the renewal of an iconic Canadian brand in its hometown". [23] The penthouse was bought by entrepreneur Robert Österlund (founder of Xacti, LLC and Inbox.com) for a Canadian record price of over $28 million. [24]

In 2009, founder Sharp wrote a memoir titled Four Seasons: The Story of Business Philosophy. It contained a historical chronicle of the hotels since its inception. [25]

In September 2021, Cascade announced it will increase its existing 47.5% stake to 71.25% by purchasing, for $2.21 billion in cash, half of the existing 47.5% stake owned by the Saudi Kingdom Holding Company (KHC). [26]

Business model

Four Seasons does not own any of its properties; [27] it operates them on behalf of real estate owners and developers. For example, its New York Downtown hotel/residence is owned by Silverstein Properties, and its Las Vegas hotel is part of the Mandalay Bay complex. The contracts between Four Seasons and property owners typically permit the company to participate in the design of the property and run it with nearly total control over every aspect of the operation. [5]

Four Seasons generally earns three percent of the gross income and about five percent of profits from the properties it operates. Property owners are required to additionally contribute money for marketing, chain-wide sales, reservations systems and renovations. Four Seasons hotels have larger staffs than competing chains, and the company maintains separate reserve accounts for each hotel to cover upkeep costs. Profit margins are relatively low, but the brand attracts developers through the hotels' reputation as solid assets for loan collateral or resale. [5]

Residential rentals

Four Seasons Hotels and Resorts began offering vacation rentals in June 2014. Titled Residential Rentals, the properties are available in: North America (Costa Rica, Houston, Jackson Hole, Nevis, Punta Mita, San Diego, Whistler, Vail). Africa (Marrakech, Mauritius, Seychelles, Sharm El Sheikh), Europe (Cap-Ferrat) and Asia (Bali at Jimbaran Bay, Jakarta, Chiang Mai, Koh Samui, Bangkok). The first stand alone Four Seasons Private Residences opened in London at 20 Grosvenor Square, Mayfair in July 2019. It will be the third Four Seasons venue in London. [28]

Residential Rentals provide the same services as Four Seasons Hotels and Resorts in a residential setting. Customers are mainly multi-generational vacationers and small group travellers. [29]

Locations

North America and the Caribbean

Four Seasons has a total of 52 hotels in North America and the Caribbean:

No.NameLocationCountryOpening YearRef(s)
1 Beverly Wilshire, a Four Seasons Hotel Beverly Hills United States
2Four Seasons Hotel and Residences Fort Lauderdale Fort Lauderdale United States
2022
3Four Seasons Hotel at The Surf Club Surfside United States
2017
4 Four Seasons Hotel Atlanta Atlanta United States
1997
5 Four Seasons Hotel Austin Austin United States
1986
6 Four Seasons Hotel Baltimore Baltimore United States
2011
7Four Seasons Hotel Boston Boston United States
1985
8 Four Seasons Hotel Chicago Chicago United States
1989
9 Four Seasons Hotel Denver Denver United States
2010
10 Four Seasons Hotel Houston Houston United States
1982
11Four Seasons Hotel Las Vegas Las Vegas United States
1999
12Four Seasons Hotel Los Angeles at Beverly Hills Los Angeles United States
1987
13Four Seasons Hotel Mexico City Mexico City Mexico
1994
14 Four Seasons Hotel Miami Miami United States
2003
15Four Seasons Hotel Minneapolis Minneapolis United States
2022
16Four Seasons Hotel Montreal Montreal Canada
2019
17Four Seasons Hotel Nashville Nashville United States
2022
18Four Seasons Hotel New Orleans New Orleans United States
2021
19 Four Seasons Hotel New York New York City United States
1993
20 Four Seasons Hotel New York Downtown New York City United States
2016
21 Four Seasons Hotel One Dalton Street, Boston Boston United States
2019
22 Four Seasons Hotel Philadelphia at Comcast Center Philadelphia United States
2019
23 Four Seasons Hotel San Francisco San Francisco United States
2001
24Four Seasons Hotel San Francisco at Embarcadero San Francisco United States
2020
25Four Seasons Hotel Seattle Seattle United States
2008
26Four Seasons Hotel Silicon Valley at East Palo Alto East Palo Alto United States
2006
27Four Seasons Hotel St. Louis St. Louis United States
2008
28 Four Seasons Hotel Toronto Toronto Canada
2012
29 Four Seasons Hotel Washington, D.C. Washington, DC United States
1979
30Four Seasons Hotel Westlake Village Westlake Village United States
2006
31Four Seasons Residence Club San Diego, Aviara Carlsbad United States
1998
32Four Seasons Resort and Residences Anguilla Anguilla United Kingdom
2016
33Four Seasons Resort and Residences Jackson Hole Jackson Hole United States
2003
34Four Seasons Resort and Residences Napa Valley Calistoga United States
2021
35Four Seasons Resort and Residences Vail Vail United States
2010
36Four Seasons Resort and Residences Whistler Whistler Canada
2004
37 Four Seasons Resort Hualālai Hualālai United States
1996
38 Four Seasons Resort Lanai Lānaʻi United States
2005
39Four Seasons Resort Los Cabos at Costa Palmas Los Cabos Mexico
2019
40 Four Seasons Resort Maui at Wailea Wailea United States
1990
41Four Seasons Resort Nevis Nevis Saint Kitts and Nevis
1991
42Four Seasons Resort Oahu at Ko Olina Ko Olina United States
2016
43Four Seasons Resort Orlando at Walt Disney World® Resort Orlando United States
2014
44Four Seasons Resort Palm Beach Palm Beach United States
1994
45Four Seasons Resort Punta Mita Punta Mita Mexico
1999
46Four Seasons Resort Rancho Encantado Santa Fe United States
2012
47Four Seasons Resort Scottsdale at Troon North Scottsdale United States
1999
48Four Seasons Resort Tamarindo Mexico Jalisco Mexico
2022
49 Four Seasons Resort The Biltmore Santa Barbara Santa Barbara United States
1987
50Naviva®, a Four Seasons Resort Punta Mita Mexico
2022
51Sensei Lanai, a Four Seasons Resort Lānaʻi United States
2019
52The Ocean Club, a Four Seasons Resort Nassau The Bahamas
2017

Central and South America

Four Seasons has a total of 4 hotels in Central and South America. [83]

No.NameLocationCountryOpening YearRef(s)
1Four Seasons Hotel Bogotá Bogotá Colombia
2016
2 Four Seasons Hotel Buenos Aires Buenos Aires Argentina
1992
3Four Seasons Hotel Casa Medina Bogotá Bogotá Colombia
2015
4Four Seasons Resort Costa Rica at Peninsula Papagayo Papagayo Peninsula Costa Rica
2004

Europe

Four Seasons has a total of 19 hotels in Europe. [88]

No.NameLocationCountryOpening YearRef(s)
1Four Seasons Astir Palace Hotel Athens Athens Greece
2019
2Four Seasons Hotel Baku Baku Azerbaijan
2012
3Four Seasons Hotel des Bergues Geneva Geneva Switzerland
2005
4Four Seasons Hotel Firenze Florence Italy
2008
5 Four Seasons Hotel George V Paris Paris France
1999
6 Four Seasons Hotel Gresham Palace Budapest Budapest Hungary
2004
7 Four Seasons Hotel Hampshire Hampshire United Kingdom
2005
8 Four Seasons Hotel Istanbul at Sultanahmet Istanbul Turkey
1996
9Four Seasons Hotel Istanbul at the Bosphorus Istanbul Turkey
2008
10 Four Seasons Hotel London at Park Lane London United Kingdom
11 Four Seasons Hotel London at Ten Trinity Square London United Kingdom
2017
12 Four Seasons Hotel Madrid Madrid Spain
2020
13Four Seasons Hotel Megève Megève France
2017
14Four Seasons Hotel Milano Milan Italy
1993
15 Four Seasons Hotel Prague Prague Czech Republic
2001
16 Four Seasons Hotel Ritz Lisbon Lisbon Portugal
1998
17 Grand-Hôtel du Cap-Ferrat, a Four Seasons Hotel French Riviera France
2015
18Les Chalets du Mont d'Arbois, Megève, a Four Seasons Hotel Megève France
2019
19San Domenico Palace, Taormina, a Four Seasons Hotel Taormina Italy
2021

Middle East and Africa

Four Seasons has a total of 22 hotels in the Middle East and Africa. [88]

No.NameLocationCountryOpening YearRef(s)
1Four Seasons Hotel Abu Dhabi at Al Maryah Island Abu Dhabi United Arab Emirates
2016
2Four Seasons Hotel Alexandria at San Stefano Alexandria Egypt
2007
3Four Seasons Hotel Amman Amman Jordan
2003
4Four Seasons Hotel Bahrain Bay Manama Bahrain
2015
5Four Seasons Hotel Beirut Beirut Lebanon
2010
6Four Seasons Hotel Cairo at Nile Plaza Cairo Egypt
2004
7Four Seasons Hotel Cairo at the First Residence Cairo Egypt
2000
8Four Seasons Hotel Casablanca Casablanca Morocco
2015
9Four Seasons Hotel Doha Doha Qatar
2005
10Four Seasons Hotel Dubai International Financial Centre Dubai United Arab Emirates
2016
11Four Seasons Hotel Kuwait at Burj Alshaya Kuwait City Kuwait
2017
12 Four Seasons Hotel Riyadh at Kingdom Centre Riyadh Saudi Arabia
2003
13Four Seasons Hotel the Westcliff Johannesburg Johannesburg South Africa
2014
14Four Seasons Hotel Tunis Tunis Tunisia
2017
15Four Seasons Resort and Residences at The Pearl-Qatar Doha Qatar
2023
16Four Seasons Resort Dubai at Jumeirah Beach Dubai United Arab Emirates
2014
17Four Seasons Resort Marrakech Marrakesh Morocco
2011
18Four Seasons Resort Mauritius at Anahita Flacq Mauritius
2008
19Four Seasons Resort Seychelles Mahé Seychelles
2009
20Four Seasons Resort Seychelles at Desroches Island Desroches Island Seychelles
2018
21Four Seasons Resort Sharm El Sheikh Sharm El Sheikh Egypt
2002
22Four Seasons Safari Lodge Serengeti Serengeti National Park Tanzania
2012

Asia and Pacific

Four Seasons has a total of 32 hotels in Asia and the Pacific region. [130]

No.NameLocationCountryOpening YearRef(s)
1 Four Seasons Hotel Bangkok at Chao Phraya River Bangkok Thailand
2020
2Four Seasons Hotel Beijing Beijing China
2012
3Four Seasons Hotel Bengaluru at Embassy One Bangalore India
2019
4Four Seasons Hotel Dalian Dalian China
2024
5Four Seasons Hotel Guangzhou Guangzhou China
2012
6Four Seasons Hotel Hangzhou at West Lake Hangzhou China
2010
7 Four Seasons Hotel Hong Kong Hong Kong China
2005
8Four Seasons Hotel Jakarta Jakarta Indonesia
2016
9 Four Seasons Hotel Kuala Lumpur Kuala Lumpur Malaysia
2018
10Four Seasons Hotel Kyoto Kyoto Japan
2016
11Four Seasons Hotel Macao at Cotai Strip Macau China
2008
12 Four Seasons Hotel Mumbai Mumbai India
2006
13Four Seasons Hotel Seoul Seoul South Korea
2015
14Four Seasons Hotel Shenzhen Shenzhen China
2013
15Four Seasons Hotel Singapore Singapore Singapore
1994
16Four Seasons Hotel Suzhou Suzhou China
2023
17Four Seasons Hotel Sydney Sydney Australia
18Four Seasons Hotel Tianjin Tianjin China
2017
19Four Seasons Hotel Tokyo at Marunouchi Tokyo Japan
2002
20Four Seasons Hotel Tokyo at Otemachi Tokyo Japan
2020
21Four Seasons Private Island Voavah at Baa Atoll Baa Atoll Maldives
2016
22Four Seasons Resort Bali at Jimbaran Bay Bali Indonesia
1993
23Four Seasons Resort Bali at Sayan Bali Indonesia
1998
24 Four Seasons Resort Bora Bora Bora Bora France
2008
25Four Seasons Resort Chiang Mai Chiang Mai Thailand
26Four Seasons Resort Koh Samui Ko Samui Thailand
2007
27Four Seasons Resort Langkawi Langkawi Malaysia
2005
28Four Seasons Resort Maldives at Kuda Huraa Kaafu Atoll Maldives
1998
29 Four Seasons Resort Maldives at Landaa Giraavaru Baa Atoll Maldives
2006
30Four Seasons Resort The Nam Hai, Hoi An Hội An Vietnam
2016
31Four Seasons Tented Camp Golden Triangle Golden Triangle Thailand
2006
32The Grand Suites at Four Seasons Macau China
2020

Former properties

Ships

In September 2022, the Four Seasons announced it was launching Four Seasons Yachts, with its first super yacht scheduled to hit the high seas in 2025. [183] In June 2023, the company confirmed plans for a second ship due for delivery in 2026. [184]

In 2003, Four Seasons Explorer, a luxury three-deck catamaran with 11 rooms, began to sail in the Maldives. Visitors from the Maldives' two Four Seasons resorts, Kuda Huraa and Landaa Giraavaru, could either book rooms or charter the entire ship for trips that lasted from three to seven days. [185] After two decades, the ship left the Maldives in 2023 for Palau, where Four Seasons began offering tours at the end of that year. [186]

Critical reception

The resort island of Landaa Giraavaru in the Maldives Landaa Giraavaru vue du ciel.JPG
The resort island of Landaa Giraavaru in the Maldives

Travel + Leisure magazine and Zagat Survey rank the hotel chain's properties among the top luxury hotels worldwide. [187] [188] Readers of Conde Nast Traveler magazine have voted Four Seasons Tented Camp Golden Triangle in Chiang Rai, Thailand as among the top ten hotels in the world for three consecutive years. [189] The company has been named one of the "100 Best Companies to Work For" by Fortune every year since the survey's inception in 1998, ranking No. 47 in 2015, [190] and is lauded for having one of the lowest employee turnover rates in the hospitality industry. [190] [191]

In recent years, restaurants at Four Seasons hotels and resorts have been recognized by Zagat and Michelin. The latter has awarded a total of 29 stars to 20 of the company's restaurants, including Four Seasons Hotel Hong Kong (three restaurants), Paris (three restaurants), Beijing (two restaurants) and Florence. [192]

See also

Notes

  1. Managed under the name Regent Beverly Wilshire, a Four Seasons Hotel from 1992 to 2006. [30]
  2. Opened as Inn on the Park London.
  3. Managed under the name Regent Sydney, a Four Seasons Hotel from 1992 to 2002. [147]
  4. Managed under the name Regent Chiang Mai, a Four Seasons Resort from 1995 to 2003. [18]

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