Four Seasons Hotels and Resorts

Four Seasons Hotels Limited

Trade name	Four Seasons Hotels and Resorts
Type	Private
Industry	Hospitality
Founded	21 March 1961;62 years ago (1961-03-21)
Founder	Isadore Sharp
Headquarters	Toronto, Ontario , Canada
Number of locations	124 properties in 47 countries
Key people	Isadore Sharp (chairman) Alejandro Reynal (CEO)
Revenue	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 an international 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%. ^[7]

History

Four Seasons Hotel and Residences in Yorkville, Toronto

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 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]

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. ^[17] 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." ^[18] 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 one hotel in Mumbai. ^[19] 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.

Four Seasons Place together with a 6-storey atrium mall in Kuala Lumpur, Malaysia.

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". ^[20] The penthouse was bought by entrepreneur Robert Österlund (founder of Xacti, LLC and Inbox.com) for a Canadian record price of over $28 million. ^[21]

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. ^[22]

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). ^[23]

Business model

Four Seasons Hotel in Amman

Four Seasons does not own any of its properties; ^[24] 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

Interior of the Four Seasons Hotel and Resort in Macau

Four Seasons Hotel and Tower in Miami, Florida

Four Seasons Hotel in Florence, in the historic Palazzo della Gherardesca

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 (Jimbaran Bay, Chiang Mai, Koh Samui).

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. ^[25]

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. ^[26]

Locations

North America

Four Seasons has a total of 48 hotels in North America.

#	Hotel Location	Opening Year	Hotel Name	Ref(s)
	Minneapolis, Minnesota	2022	Four Seasons Hotel and Residences	[27]
	Atlanta, Georgia	1992	Four Seasons Hotel Atlanta
	Austin, Texas	2010	Four Seasons Hotel Austin
	Nassau, Bahamas	2017	The Ocean Club	[28]
	Baltimore, Maryland	2011	Four Seasons Hotel Baltimore	[29]
	Boston, Massachusetts	1985	Four Seasons Hotel Boston
	Boston, Massachusetts	2019	Four Seasons Hotel & Private Residences, One Dalton Street	[30]
	Chicago, Illinois	1989	Four Seasons Hotel Chicago
	Dallas, Texas	1986	Four Seasons Resort and Club Dallas at Las Colinas
	Denver, Colorado	2010	Four Seasons Hotel Denver
	Fort Lauderdale, Florida	2022	Four Seasons Hotel and Residences Fort Lauderdale	[31]
	Hualālai, Hawaii	1996	Four Seasons Resort Hualālai
	Lanai, Hawaii	1991	Four Seasons Resort Lanai
	Lanai, Hawaii	2019	Sensei Lanai	[32]
	Maui, Hawaii	1990	Four Seasons Resort Maui at Wailea
	Ko Olina, Hawaii	2016	Four Seasons Resort Oahu at Ko Olina	[33]
	Houston, Texas	1982	Four Seasons Hotel Houston
	Jackson Hole, Wyoming	2003	Four Seasons Resort and Residences Jackson Hole
	Las Vegas, Nevada	1999	Four Seasons Hotel Las Vegas
	Los Angeles, California	1987	Four Seasons Los Angeles at Beverly Hills
	Beverly Hills, California	1928	Beverly Wilshire
	Westlake Village, California	2006	Four Seasons Hotel Westlake Village
	Baja California Sur, Mexico	2019	Four Seasons Resort Los Cabos at Costa Palmas	[34]
	Mexico City, Mexico	1994	Four Seasons Hotel Mexico City
	Miami, Florida	2003	Four Seasons Hotel Miami
	Surfside, Florida	2017	Four Seasons Hotel at The Surf Club	[35]
	Montreal, Quebec	2019	Four Seasons Hotel Montreal	[36]
	Calistoga, California	2021	Four Seasons Resort and Residences Napa Valley	[37]
	Nashville, Tennessee	2022	Four Seasons Hotel and Private Residences Nashville	[38]
	Nevis, Saint Kitts and Nevis	1991	Four Seasons Resort Nevis
	New Orleans, Louisiana	2021	Four Seasons Hotel New Orleans	[39]
	New York, New York	1993	Four Seasons Hotel New York
	New York, New York	2016	Four Seasons Hotel New York Downtown	[40]
	Orlando, Florida	2014	Four Seasons Resort Orlando at Walt Disney World® Resort	[41]
	Palm Beach, Florida	1994	Four Seasons Resort Palm Beach
	East Palo Alto, California	2006	Four Seasons Hotel Silicon Valley at East Palo Alto
	Philadelphia, Pennsylvania	2019	Four Seasons Hotel Philadelphia at Comcast Center	[42]
	Punta Mita, Mexico	1999	Four Seasons Resort Punta Mita
	Tamarindo, Mexico	2022	Four Seasons Resort Tamarindo	[43]
	Carlsbad, California	1998	Four Seasons Residence Club San Diego, Aviara
	San Francisco, California	2001	Four Seasons Hotel San Francisco
	San Francisco, California	2020	Four Seasons Hotel San Francisco at Embarcadero	[44]
	Santa Barbara, California	1927	Four Seasons Resort The Biltmore
	Santa Fe, New Mexico	2012	Four Seasons Resort Rancho Encantado
	Scottsdale, Arizona	1999	Four Seasons Resort Scottsdale at Troon North
	Seattle, Washington	2008	Four Seasons Hotel Seattle
	St. Louis, Missouri	2008	Four Seasons Hotel St. Louis
	Toronto, Ontario	2012	Four Seasons Hotel Toronto	[45]
	Vail, Colorado	2010	Four Seasons Resort and Residences Vail	[46]
	Washington, DC	1979	Four Seasons Hotel Washington, DC
	West End, Anguilla	2016	Four Seasons Resort and Residences Anguilla	[47]
	Whistler, British Columbia	2004	Four Seasons Resort and Residences Whistler

Central and South America

Four Seasons has a total of 4 hotels in Central and South America. ^[48]

#	Hotel Location	Opening Year	Hotel Name	Ref(s)
1	Buenos Aires, Argentina	1992	Hotel Buenos Aires	[49]
2	Papagayo Peninsula, Costa Rica	2004	Resort Costa Rica at Peninsula Papagayo	[50]
3	Bogota, Colombia	2015	Hotel Casa Medina Bogota	[51]
4	Bogotá, Colombia	2016	Hotel Bogota	[52]

Europe

Four Seasons has a total of 20 hotels in Europe. ^[53]

  Also offers private luxury residences. ^[54]

#	Hotel Location	Opening Year	Hotel Name	Ref(s)
1	London, United Kingdom	1970	Hotel London at Park Lane	[55]
2	Milan, Italy	1993	Hotel Milano	[56]
3	Istanbul, Turkey	1996	Hotel Istanbul at Sultanahmet	[57]
4	Lisbon, Portugal	1998	Hotel Ritz	[58]
5	Paris, France	1999	Hotel George V	[59]
6	Prague, Czech Republic	2001	Hotel Prague	[60]
7	Budapest, Hungary	2004	Hotel Gresham Palace	[61]
8	Hampshire, United Kingdom	2005	Hotel Hampshire	[62]
9	Geneva, Switzerland		Hotel des Bergues	[63]
10	Florence, Italy	2008	Hotel Firenze	[64]
11	Istanbul, Turkey		Hotel Istanbul at the Bosphorus	[65]
12	Baku, Azerbaijan	2012	Hotel Baku	[66]
13	French Riviera	2015	Grand-Hôtel du Cap-Ferrat	[67]
14	London, United Kingdom	2017	Hotel London at Ten Trinity Square	[68]
15	Megève, France		Hotel Megève	[69]
16	Athens, Greece	2019	Astir Palace Hotel	[70]
17	Megève, France		Les Chalets du Mont d'Arbois	[71]
18	Madrid, Spain	2020	Four Seasons Hotel Madrid	[72]
19	Taormina, Italy	2021	San Domenico Palace, Taormina, a Four Seasons Hotel	[72]

Middle East and Africa

Four Seasons has a total of 22 hotels in the Middle East and Africa. ^[53]

  Also offers private luxury residences. ^[54]

#	Hotel Location	Opening Year	Hotel Name	Ref(s)
1	Cairo, Egypt	2000	Hotel Cairo at the First Residence	[73]
2	Sharm El Sheikh, Egypt	2002	Resort Sharm El Sheikh	[74]
3	Riyadh, Saudi Arabia	2003	Hotel Riyadh at Kingdom Centre	[75]
4	Amman, Jordan		Hotel Amman	[76]
5	Cairo, Egypt	2004	Hotel Cairo at Nile Plaza	[77]
6	Doha, Qatar	2005	Four Seasons Hotel Doha	[78]
7	Alexandria, Egypt	2007	Hotel Alexandria at San Stefano	[79]
8	Mauritius	2008	Resort Mauritius at Anahita	[80]
9	Mahé, Seychelles	2009	Resort Seychelles	[81]
10	Beirut, Lebanon	2010	Hotel Beirut	[82]
11	Marrakech, Morocco	2011	Resort Marrakech	[83]
12	Arusha, Tanzania	2012	Safari Lodge Serengeti	[84]
13	Dubai, United Arab Emirates	2014	Resort Dubai at Jumeirah Beach	[85]
14	Johannesburg, South Africa		Hotel the Westcliff Johannesburg	[86]
15	Manama, Bahrain	2015	Hotel Bahrain Bay	[87]
16	Casablanca, Morocco		Four Seasons Hotel Casablanca	[88]
17	Dubai, United Arab Emirates	2016	Hotel Dubai International Financial Centre	[89]
18	Abu Dhabi, United Arab Emirates		Hotel Abu Dhabi at Maryah Island	[90]
19	Kuwait City, Kuwait	2017	Hotel Kuwait at Burj Alshaya	[91]
20	Tunis, Tunisia		Hotel Tunis	[92]
21	Desroches Island, Seychelles	2018	Resort Seychelles at Desroches Island	[93]

Asia and Pacific

Four Seasons has a total of 25 hotels in Asia and the Pacific region. ^[94]

  Also offers private luxury residences. ^[54]

#	Hotel Location	Opening Year	Hotel Name	Ref(s)
1	Sydney, Australia	2002	Hotel at Sydney	[95]
2	Singapore	1994	Hotel Singapore	[96]
3	Chiang Mai, Thailand	1995	Four Seasons Resort Chiang Mai	[97]
4	Kaafu Atoll, Maldives	1998	Resort Maldives at Kuda Huraa	[98]
5	Marunouchi, Tokyo, Japan	2002	Four Seasons Tokyo	[99]
6	Otemachi, Tokyo, Japan			[100]
7	Hong Kong	2005	Four Seasons Hotel and Place Hong Kong	[101]
8	Langkawi, Malaysia		Hotel and Resort Langkawi	[102]
9	Mumbai, India	2006	Four Seasons Hotel Mumbai	[103]
10	Landaa Giraavaru, Maldives		Resort Maldives at Landaa Giraavaru	[104]
11	Macau	2008	Four Seasons Hotel Macao at Cotai Strip	[105]
12	Bora Bora, French Polynesia Islands		Four Seasons Resort Bora Bora	[106]
13	Hangzhou, China	2010	Hotel Hangzhou at West lake	[107]
14	Beijing, China	2012	Four Seasons Hotel Beijing	[108]
15	Guangzhou, China		Four Seasons Hotel Guangzhou	[109]
16	Shenzhen, China	2013	Hotel Shenzhen	[110]
17	Seoul, South Korea	2015	Four Seasons Hotel Seoul	[111]
18	Jakarta, Indonesia	2016	Hotel at Capital Place	[112]
19	Tianjin, China	2016	Four Seasons Tower	[113]
20	Hoi An, Vietnam		Four Seasons Resort Hoi An, The Nam Hai	[114]
21	Kyoto, Japan	2017	Hotel and Resort Kyoto	[115]
22	Kuala Lumpur, Malaysia	2018	Hotel and Shoppes at Four Seasons Place KL	[116]
23	Bangalore, India	2019	Hotel Bengaluru at Embassy One	[117]
24	Bangkok, Thailand	2020	Hotel Bangkok at Chao Phraya River	[118]
25	Taipei, Taiwan	2025	Four Seasons Hotel Taipei	[119]

Four Seasons Yachts

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. ^[120]

Critical reception

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. ^{[121] [122]} 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. ^[123] 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, ^[124] and is lauded for having one of the lowest employee turnover rates in the hospitality industry. ^{[124] [125]}

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. ^[126]

Philanthropy

The company and its hotels and resorts have been involved in a number of philanthropic programs, with a focus on supporting sustainability, building communities, and advancing cancer research. Four Seasons was one of the founders of the Terry Fox Run in 1981, ^[127] which has since grown into the world's largest single day cancer fundraiser, with events around the world every September. To date, the Terry Fox Run has raised more than CAD 750 million. ^[128]

In 2001, Four Seasons Resort Maldives started collaborating with the local environmental organization Seamarc/Marine savers, which has set up a program of reimplantation of coral in damaged areas. ^[129]

On June 19, 2002, the Canadian Opera Company announced Four Seasons Hotels as the naming donor for the COC's new Opera House, also home to the National Ballet of Canada, the Four Seasons Centre for the Performing Arts, located in Toronto, Ontario. ^[130]

See also

•   Hotelsportal

References

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Cascade Investment affiliate to acquire controlling stake in Four Seasons for $2.21B

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