Four Seasons Hotels and Resorts
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]
| Four Seasons Hotels and Resorts | |
| Type | Private |
| Industry | Hospitality |
| Founded | 21 March 1961 |
| Founder | Isadore Sharp |
| Headquarters | , 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 |
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 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.
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
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
This section needs additional citations for verification. (June 2022) |
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
This section relies largely or entirely on a single source. (April 2022) |
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
This section relies largely or entirely on a single source. (April 2022) |
Four Seasons has a total of 20 hotels in Europe.[53]
| # | Hotel Location | Opening Year | Hotel Name | Ref(s) |
|---|---|---|---|---|
| 1 | London, United Kingdom | 1970 | Hotel London at Park Lane | |
| 2 | Milan, Italy | 1993 | Hotel Milano | |
| 3 | Istanbul, Turkey | 1996 | Hotel Istanbul at Sultanahmet | |
| 4 | Lisbon, Portugal | 1998 | Hotel Ritz | |
| 5 | Paris, France | 1999 | Hotel George V | |
| 6 | Prague, Czech Republic | 2001 | Hotel Prague | |
| 7 | Budapest, Hungary | 2004 | Hotel Gresham Palace | |
| 8 | Hampshire, United Kingdom | 2005 | Hotel Hampshire | |
| 9 | Geneva, Switzerland | Hotel des Bergues | ||
| 10 | Florence, Italy | 2008 | Hotel Firenze | |
| 11 | Istanbul, Turkey | Hotel Istanbul at the Bosphorus | ||
| 12 | Baku, Azerbaijan | 2012 | Hotel Baku | |
| 13 | French Riviera | 2015 | Grand-Hôtel du Cap-Ferrat | |
| 14 | London, United Kingdom | 2017 | Hotel London at Ten Trinity Square | |
| 15 | Megève, France | Hotel Megève | ||
| 16 | Athens, Greece | 2019 | Astir Palace Hotel | |
| 17 | Megève, France | Les Chalets du Mont d'Arbois | ||
| 18 | Madrid, Spain | 2020 | Four Seasons Hotel Madrid | |
| 19 | Taormina, Italy | 2021 | San Domenico Palace, Taormina, a Four Seasons Hotel |
Middle East and Africa
This section relies largely or entirely on a single source. (April 2022) |
Four Seasons has a total of 22 hotels in the Middle East and Africa.[53]
Asia and Pacific
This section relies largely or entirely on a single source. (April 2022) |
Four Seasons has a total of 25 hotels in Asia and the Pacific region.[94]
| # | Hotel Location | Opening Year | Hotel Name | Ref(s) |
|---|---|---|---|---|
| 1 | Sydney, Australia | 2002 | Hotel at Sydney | |
| 2 | Singapore | 1994 | Hotel Singapore | |
| 3 | Chiang Mai, Thailand | 1995 | Four Seasons Resort Chiang Mai | |
| 4 | Kaafu Atoll, Maldives | 1998 | Resort Maldives at Kuda Huraa | |
| 5 | Marunouchi, Tokyo, Japan | 2002 | Four Seasons Tokyo | |
| 6 | Otemachi, Tokyo, Japan | |||
| 7 | Hong Kong | 2005 | Four Seasons Hotel and Place Hong Kong | |
| 8 | Langkawi, Malaysia | Hotel and Resort Langkawi | ||
| 9 | Mumbai, India | 2006 | Four Seasons Hotel Mumbai | |
| 10 | Landaa Giraavaru, Maldives | Resort Maldives at Landaa Giraavaru | ||
| 11 | Macau | 2008 | Four Seasons Hotel Macao at Cotai Strip | |
| 12 | Bora Bora, French Polynesia Islands | Four Seasons Resort Bora Bora | ||
| 13 | Hangzhou, China | 2010 | Hotel Hangzhou at West lake | |
| 14 | Beijing, China | 2012 | Four Seasons Hotel Beijing | |
| 15 | Guangzhou, China | Four Seasons Hotel Guangzhou | ||
| 16 | Shenzhen, China | 2013 | Hotel Shenzhen | |
| 17 | Seoul, South Korea | 2015 | Four Seasons Hotel Seoul | |
| 18 | Jakarta, Indonesia | 2016 | Hotel at Capital Place | |
| 19 | Tianjin, China | 2016 | Four Seasons Tower | |
| 20 | Hoi An, Vietnam | Four Seasons Resort Hoi An, The Nam Hai | ||
| 21 | Kyoto, Japan | 2017 | Hotel and Resort Kyoto | |
| 22 | Kuala Lumpur, Malaysia | 2018 | Hotel and Shoppes at Four Seasons Place KL | |
| 23 | Bangalore, India | 2019 | Hotel Bengaluru at Embassy One | |
| 24 | Bangkok, Thailand | 2020 | Hotel Bangkok at Chao Phraya River | |
| 25 | Taipei, Taiwan | 2025 | Four Seasons Hotel Taipei |
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
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
References
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- ^ "Four Seasons Announces Four Seasons Yachts". www.travelmarketreport.com. Retrieved 28 September 2022.
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- ^ Richard L. Johnson (1 May 2007). "Zagat's Consumer Survey Rates Amanresorts and Four Seasons Best Hotel Chains in the World; Surveyors Found Four Seasons George V (Paris) the Top Large Hotel / May 2007". Hotel-online.com. Retrieved 30 July 2015.
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- ^ "Four Seasons Awards and Accolades". Four Seasons Press Room.
- ^ "Peter Kuitenbrouwer: Isadore Sharp marks 50 years of Four Seasons". National Post - Mar. 22, 2011
- ^ "Cancer Research It's Working" (PDF). Retrieved 13 September 2018.
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Cascade Investment affiliate to acquire controlling stake in Four Seasons for $2.21B
External links
- Official website