Profits at the Four Seasons Hotel Group (FSHG) for the three months to 30 June have increased to $15.8m (£8.7m) as the luxury market remains stable.
FSHG continued its strategy of reducing its hotel ownership, recently disposing of the Pierre hotel in New York as well as the Four Seasons in Berlin in 2004. It also sold a 53% interest in the Four Seasons Shanghai in China - retaining only a 10% stake.
Chief executive Isadore Sharp said: "This reflects our focus on hotel management which is our expertise."
During the quarter it opened properties in Doha, Qatar, and Whistler, Canada, and last month announced it will operate a hotel in a mixed-use development in Toronto's Yorkville Avenue strip.
Four Seasons operates 65 hotels in 29 countries and has more than 20 properties under development.
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