TORONTO- Four Seasons Hotels reported results for the third quarter ended September 30, 2000. Net earnings increased 13.5 % to $23.1 in the third quarter 2000, as compared to net earnings of $20.3 million in 1999. For the nine months ended September 30, 2000, net earnings increased 22.8% to $64.6 million, as compared to net earnings of $52.6 million for the comparable period in 1999. As expected, the city-wide hotel strike in Vancouver in July 2000 caused a decline in ownership earnings of $2.9 million and hotel management fees of $400,000. However, when excluding the impact of the strike, net earnings for the quarter ended September 30, 2000, increased 26% as compared to the quarter ended September 30, 1999. Total revenues of all Four Seasons properties increased 19.7% to $671.6 million for the third quarter 2000, compared to $561.2 million for the same period in 1999. Total revenues of all managed hotels and resorts increased 19.8% to $2.0 billion for the nine months ended September 30, 2000, as compared to $1.7 billion for the comparable period in 1999. (11/9/00)
