Four Seasons Hotels Limited
Four Seasons Hotels and Resorts
TypePrivate
IndustryHospitality
Founded21 March 1961 (1961-03-21)
FounderIsadore Sharp
Headquarters,
Canada
Number of locations
124 properties in 47 countries
Key people
Isadore Sharp (chairman)
Alejandro Reynal (CEO)
RevenueIncrease US$4.3 billion (2015)[1]
OwnerCascade Investment
Kingdom Holding Company
Triples Holding
Number of employees
45,000 (2018)[2]
Websitewww.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%.[7]

History

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]

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 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 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 (Bali at Jimbaran Bay, Jakarta, Chiang Mai, Koh Samui, Bangkok).

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 and the Caribbean

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

# Hotel Name Hotel Location Country Opening Year Ref(s)
1 Beverly Wilshire, a Four Seasons Hotel Beverly Hills United States
1992
2 Four Seasons Hotel and Residences Fort Lauderdale Fort Lauderdale United States
2022
[27]
3 Four Seasons Hotel at The Surf Club Surfside United States
2017
[28]
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
[29]
7 Four 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
11 Four Seasons Hotel Las Vegas Las Vegas United States
1999
12 Four Seasons Hotel Los Angeles at Beverly Hills Los Angeles United States
1987
13 Four Seasons Hotel Mexico City Mexico City Mexico
1994
14 Four Seasons Hotel Miami Miami United States
2003
15 Four Seasons Hotel Minneapolis Minneapolis United States
2022
[30]
16 Four Seasons Hotel Montreal Montreal Canada
2019
[31]
17 Four Seasons Hotel Nashville Nashville United States
2022
[32]
18 Four Seasons Hotel New Orleans New Orleans United States
2021
[33]
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
[34]
21 Four Seasons Hotel One Dalton Street, Boston Boston United States
2019
[35]
22 Four Seasons Hotel Philadelphia at Comcast Center Philadelphia United States
2019
[36]
23 Four Seasons Hotel San Francisco San Francisco United States
2001
24 Four Seasons Hotel San Francisco at Embarcadero San Francisco United States
2020
[37]
25 Four Seasons Hotel Seattle Seattle United States
2008
26 Four Seasons Hotel Silicon Valley at East Palo Alto East Palo Alto United States
2006
27 Four Seasons Hotel St. Louis St. Louis United States
2008
28 Four Seasons Hotel Toronto Toronto Canada
2012
[38]
29 Four Seasons Hotel Washington, D.C. Washington, DC United States
1979
30 Four Seasons Hotel Westlake Village Westlake Village United States
2006
31 Four Seasons Residence Club San Diego, Aviara Carlsbad United States
1998
32 Four Seasons Resort and Residences Anguilla Anguilla United Kingdom
2016
[39]
33 Four Seasons Resort and Residences Jackson Hole Jackson Hole United States
2003
34 Four Seasons Resort and Residences Napa Valley Calistoga United States
2021
[40]
35 Four Seasons Resort and Residences Vail Vail United States
2010
[41]
36 Four 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
39 Four Seasons Resort Los Cabos at Costa Palmas Los Cabos Mexico
2019
[42]
40 Four Seasons Resort Maui at Wailea Maui United States
1990
41 Four Seasons Resort Nevis Nevis Saint Kitts and Nevis
1991
42 Four Seasons Resort Oahu at Ko Olina Ko Olina United States
2016
[43]
43 Four Seasons Resort Orlando at Walt Disney World® Resort Orlando United States
2014
[44]
44 Four Seasons Resort Palm Beach Palm Beach United States
1994
45 Four Seasons Resort Punta Mita Punta Mita Mexico
1999
46 Four Seasons Resort Rancho Encantado Santa Fe United States
2012
47 Four Seasons Resort Scottsdale at Troon North Scottsdale United States
1999
48 Four Seasons Resort Tamarindo Mexico Jalisco Mexico
2022
[45]
49 Four Seasons Resort The Biltmore Santa Barbara Santa Barbara United States
1987
50 Naviva®, a Four Seasons Resort Punta Mita Mexico
2022
51 Sensei Lanai, a Four Seasons Resort Lanai United States
2019
[46]
52 The Ocean Club, a Four Seasons Resort Nassau The Bahamas
2017
[47]

Central and South America

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

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

Europe

Four Seasons has a total of 19 hotels in Europe.[53]

  Also offers private luxury residences.[54]
# Hotel Name Hotel Location Country Opening Year Ref(s)
1 Four Seasons Astir Palace Hotel Athens Athens Greece
2019
2 Four Seasons Hotel Baku Baku Azerbaijan
2012
3 Four Seasons Hotel des Bergues Geneva Geneva Switzerland
2005
4 Four 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
9 Four Seasons Hotel Istanbul at the Bosphorus Istanbul Turkey
2008
10 Four Seasons Hotel London at Park Lane London United Kingdom
1970
11 Four Seasons Hotel London at Ten Trinity Square London United Kingdom
2017
12 Four Seasons Hotel Madrid Madrid Spain
2020
13 Four Seasons Hotel Megève Megève France
2017
14 Four 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
18 Les Chalets du Mont d'Arbois, Megève, a Four Seasons Hotel Megève France
2019
19 San 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.[53]

  Also offers private luxury residences.[54]
# Hotel Name Hotel Location Country Opening Year Ref(s)
1 Four Seasons Hotel Abu Dhabi at Al Maryah Island Abu Dhabi United Arab Emirates
2016
2 Four Seasons Hotel Alexandria at San Stefano Alexandria Egypt
2007
3 Four Seasons Hotel Amman Amman Jordan
2003
4 Four Seasons Hotel Bahrain Bay Manama Bahrain
2015
5 Four Seasons Hotel Beirut Beirut Lebanon
2010
6 Four Seasons Hotel Cairo at Nile Plaza Cairo Egypt
2004
7 Four Seasons Hotel Cairo at the First Residence Cairo Egypt
2000
8 Four Seasons Hotel Casablanca Casablanca Morocco
2015
9 Four Seasons Hotel Doha Doha Qatar
2005
10 Four Seasons Hotel Dubai International Financial Centre Dubai United Arab Emirates
2016
11 Four Seasons Hotel Kuwait at Burj Alshaya Kuwait City Kuwait
2017
12 Four Seasons Hotel Riyadh at Kingdom Centre Riyadh Saudi Arabia
2003
13 Four Seasons Hotel the Westcliff Johannesburg Johannesburg South Africa
2014
14 Four Seasons Hotel Tunis Tunis Tunisia
2017
15 Four Seasons Resort and Residences at The Pearl-Qatar Doha Qatar
2023
16 Four Seasons Resort Dubai at Jumeirah Beach Dubai United Arab Emirates
2014
17 Four Seasons Resort Marrakech Marrakesh Morocco
2011
18 Four Seasons Resort Mauritius at Anahita Flacq Mauritius
2008
19 Four Seasons Resort Seychelles Mahé Seychelles
2009
20 Four Seasons Resort Seychelles at Desroches Island Desroches Island Seychelles
2018
21 Four Seasons Resort Sharm El Sheikh Sharm El Sheikh Egypt
2002
22 Four Seasons Safari Lodge Serengeti Arusha Tanzania
2012

Asia and Pacific

Four Seasons has a total of 30 hotels in Asia and the Pacific region.[94]

  Also offers private luxury residences.[54]
# Hotel Name Hotel Location Country Opening Year Ref(s)
1 Four Seasons Hotel Bangkok at Chao Phraya River Bangkok Thailand
2020
2 Four Seasons Hotel Beijing Beijing China
2012
3 Four Seasons Hotel Bengaluru at Embassy One Bangalore India
2019
4 Four Seasons Hotel Guangzhou Guangzhou China
2012
5 Four Seasons Hotel Hangzhou at West Lake Hangzhou China
2010
6 Four Seasons Hotel Hong Kong Hong Kong China
2005
7 Four Seasons Hotel Jakarta Jakarta Indonesia
2016
8 Four Seasons Hotel Kuala Lumpur Kuala Lumpur Malaysia
2018
9 Four Seasons Hotel Kyoto Kyoto Japan
2017
10 Four Seasons Hotel Macao at Cotai Strip Macau China
2008
11 Four Seasons Hotel Mumbai Mumbai India
2006
12 Four Seasons Hotel Seoul Seoul South Korea
2015
13 Four Seasons Hotel Shenzhen Shenzhen China
2013
14 Four Seasons Hotel Singapore Singapore Singapore
1994
15 Four Seasons Hotel Sydney Sydney Australia
2002
16 Four Seasons Hotel Tianjin Tianjin China
2016
17 Four Seasons Hotel Tokyo at Marunouchi Tokyo Japan
2002
18 Four Seasons Hotel Tokyo at Otemachi Tokyo Japan
2020
19 Four Seasons Private Island Voavah at Baa Atoll Baa Atoll Maldives
2016
20 Four Seasons Resort Bali at Jimbaran Bay Bali Indonesia
1993
21 Four Seasons Resort Bali at Sayan Bali Indonesia
1998
22 Four Seasons Resort Bora Bora Bora Bora France
2008
23 Four Seasons Resort Chiang Mai Chiang Mai Thailand
1995
24 Four Seasons Resort Koh Samui Ko Samui Thailand
2007
25 Four Seasons Resort Langkawi Langkawi Malaysia
2005
26 Four Seasons Resort Maldives at Kuda Huraa Kaafu Atoll Maldives
1998
27 Four Seasons Resort Maldives at Landaa Giraavaru Landaa Giraavaru Maldives
2006
28 Four Seasons Resort The Nam Hai, Hoi An Hội An Vietnam
2016
29 Four Seasons Tented Camp Golden Triangle Golden Triangle Thailand
2006
30 The Grand Suites at Four Seasons Macau China
2020

Former properties

  • Four Seasons Hotel Berlin, Germany: Opened in 1996, management terminated in 2004. It was taken over by Regent Hotels & Resorts and rebranded Regent Berlin.[121]
  • Four Seasons Hotel Damascus, Syria: Opened in 2005 and financed by Prince Al-Waleed bin Talal (who is a joint stakeholder at the company) and Syrian businessman Samer Foz. The hotel remained affiliated with the hotel chain years after the start of the Syrian Civil War, which saw Canada severing ties with Syria, until 2019, when the United States put sanctions on Foz for his ties with Bashar Al-Assad. The hotel continues to call itself Four Seasons, despite no longer being associated with it.[122]
  • Four Seasons Hotel Dublin, Ireland: Opened in 2001, management terminated in 2014. It was rebranded as an InterContinental effective on 1 January 2015.[123]
  • Four Seasons Hotel Jakarta, Indonesia: Opened in 2004 as a rebranding of the former Regent Jakarta, which opened in 1995. The hotel was closed in 2014, initially for renovations that were expected to be complete by 2018.[124] However, it never reopened as a Four Seasons again. Management of the hotel was eventually assumed by Marriott International, which rebranded it as The St. Regis Jakarta in 2022.[125] The name "Four Seasons Hotel Jakarta" now refers to another hotel that the chain opened in 2016.
  • Four Seasons Hotel Lion Palace, Saint Petersburg, Russia. Opened in 2013 in a renovated palace that dates back to 1820. It left the chain in 2022, following the Russian invasion of Ukraine, though it continues to call itself Four Seasons.[126]
  • Four Seasons Hotel London at Canary Wharf, United Kingdom: Opened in 1999, left the chain in 2016. It is currently known as the Canary Riverside Plaza.[127]
  • Four Seasons Hotel Moscow, Russia: Opened in 2014 on top of a demolished hotel called Hotel Moskva, which operated from 1935 to 2004. Like its counterpart in Saint Petersburg, it left the chain following the Russian invasion of Ukraine, but continues to call itself Four Seasons.[126]
  • Four Seasons Hotel Philadelphia, United States: Opened in 1983, management terminated in 2015.[128] Hilton Worldwide eventually took over the management; it is currently known as The Logan, a Curio Collection by Hilton.
  • Four Seasons Hotel Sao Paulo, Brazil: Opened in 2018, management terminated in 2020. Marriott International assumed partnership with the hotel in 2022 and rebranded it as JW Marriott Sao Paulo.[129]
  • Four Seasons Hotel Shanghai, China: Opened in 2002 as the first Four Seasons hotel in China. In 2020, the company announced that the hotel would be closed for renovations, which commenced in June 2022. It has since been delisted from the company's website, making its future uncertain.[130]
  • Four Seasons Hotel Shanghai Pudong, China: Opened in 2012. Management was taken over by IHG Hotels & Resorts in 2020, which rebranded it Regent Shanghai Pudong.[131]
  • Four Seasons Hotel Tokyo at Chinzan-so: Opened in 1992. It was the first Four Seasons Hotel to open in Asia and Pacific region, but it left the chain in 2012. It is currently known as Hotel Chinzan-so Tokyo.
  • Four Seasons Hotel Toronto, Canada: Opened in 1978 as a rebranding of the former Hyatt Regency Toronto, which had opened six years prior. The hotel closed in 2012, in conjunction with the opening of a new Four Seasons property in Toronto nearby, and was converted to a condominium.[132]
  • Four Seasons Hotel Vancouver, Canada: Opened in 1976, it was one of the few Four Seasons hotel directly owned by the chain, as opposed to being operated on behalf of a third-party. After 44 years in service, the hotel closed in 2020 following a legal dispute with its landowners.[133]
  • Four Seasons Resort Dallas at Las Colinas, United States: Opened in 1986 by the USAA, management was terminated in 2022. Marriott International subsequently assumed control and renamed it The Las Colinas Resort Dallas, with plans to rebrand it as a Ritz-Carlton in 2024.[134]
  • Four Seasons Resort Great Exuma at Emerald Bay, the Bahamas: Opened in 2003 as part of the Great Exuma's Emerald Bay resort development, management was terminated in 2009. Several months later, it reopened as Sandals Emerald Bay.[135]
  • Inn on the Park, Toronto, Canada: Opened in 1963 as the company's first luxury hotel, a prototype to the Four Seasons brand. It suffered a decline in the 1980s, ultimately leaving the chain in 1996 and being converted to a Holiday Inn. The hotel closed in 2005 and has since been demolished.[9]
  • The Ritz-Carlton Chicago, a Four Seasons Hotel, United States: Opened in 1975, the hotel joined the Four Seasons chain in 1977. Despite its name, it was not originally affiliated with The Ritz-Carlton Hotel Company (which did not exist at the time; the name "Ritz-Carlton" was carried under a license). It left the chain in 2013 before joining Marriott International in 2015, under which it began operating as a proper Ritz-Carlton.[136]

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.[137] In June 2023, the company confirmed plans for a second ship due for delivery in 2026.[138]

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.[139] After two decades, the ship left the Maldives in May 2023 en route to Palau, where Four Seasons plans to organize tours in October 2023.[140] The ship is currently docked in Singapore.[141]

Critical reception

Travel + Leisure magazine and Zagat Survey rank the hotel chain's properties among the top luxury hotels worldwide.[142][143] 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.[144] 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,[145] and is lauded for having one of the lowest employee turnover rates in the hospitality industry.[145][146]

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.[147]

See also

References

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

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