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Four Seasons Hotels and Resorts

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Four Seasons Hotels Limited
Four Seasons Hotels and Resorts
Company typePrivate
IndustryHospitality
Founded21 March 1961; 63 years ago (1961-03-21)
FounderIsadore Sharp
Headquarters
Toronto, Ontario
,
Canada
Number of locations
124 properties in 47 countries
Key people
Bill Gates
Isadore Sharp (chairman)
John Davison (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 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] Four Seasons also produces a complimentary magazine for guests that is supported by advertising revenue. Four Seasons has a fractional ownership division, Four Seasons Residence Clubs.

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]
West End, Anguilla 2016 Four Seasons Resort and Residences Anguilla [28]
Atlanta, Georgia 1992 Four Seasons Hotel Atlanta
Austin, Texas 2010 Four Seasons Hotel Austin
Nassau, Bahamas 2017 The Ocean Club [29]
Baltimore, Maryland 2011 Four Seasons Hotel Baltimore [30]
Boston, Massachusetts 1985 Four Seasons Hotel Boston
Boston, Massachusetts 2019 Four Seasons Hotel & Private Residences, One Dalton Street [31]
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
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]
Nevis, Saint Kitts and Nevis 1991 Four Seasons Resort Nevis
New Orleans, Louisiana 2021 Four Seasons Hotel New Orleans [38]
New York, New York 1993 Four Seasons Hotel New York
New York, New York 2016 Four Seasons Hotel New York Downtown [39]
Orlando, Florida 2014 Four Seasons Resort Orlando at Walt Disney World® Resort [40]
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 [41]
Punta Mita, Mexico 1999 Four Seasons Resort Punta Mita
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 [42]
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 [43]
Vail, Colorado 2010 Four Seasons Resort and Residences Vail [44]
Washington, DC 1979 Four Seasons Hotel Washington, DC
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.[45]

# Hotel Location Opening Year Hotel Name Ref(s)
1 Buenos Aires, Argentina
1992
 Hotel Buenos Aires [46]
2 Papagayo Peninsula, Costa Rica
2004
 Resort Costa Rica at Peninsula Papagayo [47]
3 Bogota, Colombia
2015
 Hotel Casa Medina Bogota [48]
4 Bogotá, Colombia
2016
 Hotel Bogota [49]

Europe

Four Seasons has a total of 20 hotels in Europe.[50]

  Also offers private luxury residences.[51]
# Hotel Location Opening Year Hotel Name Ref(s)
1 London, United Kingdom
1970
 Hotel London at Park Lane
[52]
2 Milan, Italy
1993
 Hotel Milano
[53]
3 Istanbul, Turkey
1996
 Hotel Istanbul at Sultanahmet
[54]
4 Lisbon, Portugal
1998
 Hotel Ritz
[55]
5 Paris, France
1999
 Hotel George V
[56]
6 Prague, Czech Republic
2001
 Hotel Prague
[57]
7 Budapest, Hungary
2004
 Hotel Gresham Palace
[58]
8 Hampshire, United Kingdom
2005
 Hotel Hampshire
[59]
9 Geneva, Switzerland Hotel des Bergues
[60]
10 Florence, Italy
2008
 Hotel Firenze
[61]
11 Istanbul, Turkey Hotel Istanbul at the Bosphorus
[62]
12 Baku, Azerbaijan
2012
 Hotel Baku
[63]
13 Saint Petersburg, Russia
2013
 Hotel Lion Palace
[64]
14 Moscow, Russia
2014
 Hotel Moscow
[65]
15 French Riviera
2015
 Grand-Hôtel du Cap-Ferrat
[66]
16 London, United Kingdom
2017
 Hotel London at Ten Trinity Square
[67]
17 Megève, France Hotel Megève
[68]
18 Athens, Greece
2019
 Astir Palace Hotel
[69]
19 Megève, France Les Chalets du Mont d'Arbois
[70]
20 Madrid, Spain
2020
 Four Seasons Hotel Madrid
[71]
21 Taormina, Italy
2021
 San Domenico Palace, Taormina, a Four Seasons Hotel
[71]

Middle East and Africa

Four Seasons has a total of 22 hotels in the Middle East and Africa.[50]

  Also offers private luxury residences.[51]
# Hotel Location Opening Year Hotel Name Ref(s)
1 Cairo, Egypt
2000
 Hotel Cairo at the First Residence
[72]
2 Sharm El Sheikh, Egypt
2002
 Resort Sharm El Sheikh
[73]
3 Riyadh, Saudi Arabia
2003
 Hotel Riyadh at Kingdom Centre
[74]
4 Amman, Jordan Hotel Amman
[75]
5 Cairo, Egypt
2004
 Hotel Cairo at Nile Plaza
[76]
6 Doha, Qatar
2005
 Hotel Doha
[77]
7 Alexandria, Egypt
2007
 Hotel Alexandria at San Stefano
[78]
8 Mauritius
2008
 Resort Mauritius at Anahita
[79]
9 Mahé, Seychelles
2009
 Resort Seychelles
[80]
10 Beirut, Lebanon
2010
 Hotel Beirut
[81]
11 Marrakech, Morocco
2011
 Resort Marrakech
[82]
12 Arusha, Tanzania
2012
 Safari Lodge Serengeti
[83]
13 Dubai, United Arab Emirates
2014
 Resort Dubai at Jumeirah Beach
[84]
14 Johannesburg, South Africa Hotel the Westcliff Johannesburg
[85]
15 Manama, Bahrain
2015
 Hotel Bahrain Bay
[86]
16 Casablanca, Morocco Four Seasons Hotel Casablanca
[87]
17 Dubai, United Arab Emirates
2016
 Hotel Dubai International Financial Centre
[88]
18 Abu Dhabi, United Arab Emirates Hotel Abu Dhabi at Maryah Island
[89]
19 Kuwait City, Kuwait
2017
 Hotel Kuwait at Burj Alshaya
[90]
20 Tunis, Tunisia Hotel Tunis
[91]
21 Desroches Island, Seychelles
2018
 Resort Seychelles at Desroches Island
[92]

Asia and Pacific

Four Seasons has a total of 25 hotels in Asia and the Pacific region.[93]

  Also offers private luxury residences.[51]
# Hotel Location Opening Year Hotel Name Ref(s)
1 Sydney, Australia
1982
 Hotel at Sydney
[94]
2 Singapore
1994
 Hotel Singapore
[95]
3 Chiang Mai, Thailand
1995
 Four Seasons Resort Chiang Mai
[96]
4 Kaafu Atoll, Maldives
1998
 Resort Maldives at Kuda Huraa
[97]
5 Marunouchi, Tokyo, Japan
2002
 Four Seasons Tokyo
[98]
6 Otemachi, Tokyo, Japan
[99]
7 Hong Kong
2005
 Four Seasons Hotel and Place Hong Kong
[100]
8 Langkawi, Malaysia Hotel and Resort Langkawi
[101]
9 Mumbai, India
2006
 Four Seasons Hotel Mumbai
[102]
10 Landaa Giraavaru, Maldives Resort Maldives at Landaa Giraavaru
[103]
11 Macau
2008
 Four Seasons Hotel Macao at Cotai Strip
[104]
12 Bora Bora, French Polynesia Islands Four Seasons Resort Bora Bora
[105]
13 Hangzhou, China
2010
 Hotel Hangzhou at West lake
[106]
14 Beijing, China
2012
 Four Seasons Hotel Beijing
[107]
15 Guangzhou, China Four Seasons Hotel Guangzhou
[108]
16 Shenzhen, China
2013
 Hotel Shenzhen
[109]
17 Seoul, South Korea
2015
 Four Seasons Hotel Seoul
[110]
18 Jakarta, Indonesia
2016
 Hotel at Capital Place
[111]
19 Tianjin, China
2016
 Four Seasons Tower
[112]
20 Hoi An, Vietnam Four Seasons Resort Hoi An, The Nam Hai
[113]
21 Kyoto, Japan
2017
 Hotel and Resort Kyoto
[114]
22 Kuala Lumpur, Malaysia
2018
 Hotel and Shoppes at Four Seasons Place KL
[115]
23 Bangalore, India
2019
 Hotel Bengaluru at Embassy One
[116]
24 Bangkok, Thailand
2020
 Hotel Bangkok at Chao Phraya River
[117]

Future properties

# Hotel Location Opening Year Hotel Name Ref(s)
1 Fort Lauderdale, USA
2022
 Four Seasons Hotel And Residences Fort Lauderdale
[118]
2 Tamarindo, Mexico
2022
 The Four Seasons Resort Tamarindo [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]

Industry veteran Larry Pimentel, past president of Azamara, SeaDream Yacht Club, and others, will lead the new line. The three-yacht fleet is being created in partnership with luxury shipping experts Marc-Henry Cruise Holdings Ltd. and Italian shipbuilder Fincantieri. Design partners include Tillberg Design of Sweden and Martin Brudnizki Design Studio.

The first of the three yachts will be 679 feet long, feature 95 suites and have 14 decks, with a network of suites that will feature several joining suite combinations to create villa-like residences. Each suite will offer floor-to-ceiling windows (as tall as 7.9 feet) and expansive terrace decks.

Suites will start at an average of 581 square feet of indoor/outdoor living space, but 60% of the vessel’s inventory will be in excess of 818 square feet. The largest suite on the yacht, and at sea, will be the “Funnel Suite.” It will be four levels, offering more than a 9,601 square feet of combined indoor/outdoor space, including a private wading pool and dedicated private spa area.

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]

The company has been recognized by Forbes Travel Guide with many of its properties earning a Forbes Five Star rating. In 2021, 61 properties received the five-star rating, making it the most five-star ratings earned by any hotel brand since its inception.

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] Thousands of guest-sponsored "coral frames" have been transplanted in Kuda Hurra and Landaa Giraavaru resorts' reefs, and are under survey by marine scientists; they constitute a refuge for thousands of tropical species, and help to preserve and recover fragile ecosystems.

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

References

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