Four Seasons Hotels and Resorts

Activities:

Four Seasons is a Canadian-based company that manages an international portfolio of luxury five-star hotels and resorts.

The brand which has become a byword for comfort and service started out with a modest motel in Toronto.

The turning point came 10 years later in 1970, when the group opened its first overseas hotel in London.

The success of this hotel set the future course for the company. It prompted a shift in focus towards medium-sized properties of exceptional quality offering personalised service around the clock.

In the early 1990s, a second shift in focus saw Four Seasons start to move from hotel ownership towards management contracts.

The group has three main business divisions:

  • Four Seasons Hotels and Resorts: five-star hotels in major city centres and resort destinations
  • Four Seasons Residential Properties: luxury serviced homes
  • Four Seasons Residence Clubs: luxury timeshare properties

Chief Executive:

Isadore Sharp

Key People:

Chairman: Isadore Sharp
President, worldwide business operations: Kathleen Taylor
President, worldwide hotel operations: Wolf Hengst
Chief financial officer and executive vice-president: John Davison
President, hotel operations, Europe, Middle East and Africa (EMEA): Antoine Corinthios
Senior vice-president, food and beverage: Alfons Konrad
Senior vice-president, rooms: Ivan Goh
Vice-president, sales and marketing, EMEA: David Crowl
Regional vice-president and general manager: John Stauss

Strategy:

“Our goal is to grow by five to seven new properties per year.”

Source: Four Seasons annual report for 2004

Operating Data:

Operating figures for the half-year to 30 June 2005:

Worldwide occupancy: 69.2% (2005: 65.2%)
Worldwide average daily rate: US$349 (US$327)
Worldwide revenue per available room: US$228 (2004: US$201)

European occupancy: 62.2% (2004: 64%)
European average daily rate: US$ 533 (2004: US$503)
European revenue per available room: US$348 (2004: US$331)
 
Number of hotels: 69 hotels in 31 countries, including 13 resorts
Number of bedrooms: 17,311 bedrooms
Total number of employees: 31,633
Number of employees in the UK and Ireland: 1,078 (Dublin – 449, London – 325, Canary Wharf – 204, Hampshire – 100) 

The group also manages four Regent hotels:  in Los Angeles (The Regent Beverly Wilshire), Singapore (The Regent Singapore and The Regent Kuala Lumpur)) and Taiwan (Grand Formosa Regent, Taipei)

The group has 12 properties in Europe, including four in the UK and Ireland and hotels in Budapest, Geneva, Istanbul, Lisbon, Milan, Paris, Prague and Provence.

The hotels in Dublin, Budapest, Milan and Prague are owned by Irish property investor Derek Quinlan whose Quinlan Private also owns the Maybourne Group (formerly the Savoy Group).

Hotels in the UK and Ireland
Four Seasons Hotel London, Park Lane (220 bedrooms) – five AA red stars
Four Seasons Hotel Canary Wharf (142 bedrooms) - five AA red stars
Four Seasons Hotel Hampshire, Hook (133 bedrooms)
Four Seasons Hotel Dublin (259 bedrooms)

Financial Snapshot:

Full Year

Consolidated revenues: US$339.8m* (2003: US$313m)
Pre-tax earnings: US$49.5m (2003: US$12m)

* 64% of turnover comes from management operations and 37% from ownership and corporate operations

Half Year

Consolidated revenues: US$137.6m (2004: US$128.5m)
Pre-tax earnings: US$16.9m (2004: US$27.6m)

Financial year end: 31 December 2004
Half year end: 30 June 2005

Address:

1165 Leslie Street
Toronto
Ontario,

UK