TORONTO Four Seasons Hotels reported net earnings for the fourth quarter 2000 of $38.5 million, compared to $33.9 million for the same quarter last year. For the year 2000, net earnings increased 19.2% to $103.1 million, as compared to $86.5 million last year. RevPAR improved 3.7% compared to the fourth quarter of 1999, however the company was negatively affected by lower occupancies in the Atlanta and Seattle markets. For the full year 2000, RevPAR for the U.S. core hotels, increased 9.7% compared to the same period in 1999.
The company also reported that it opened three new Four Seasons hotels during the first quarter of 2001, located in Caracas, Prague and Dublin and that it plans to open a new hotel in San Francisco and a resort in Sharm El Sheikh, Egypt by the end of this year. (2/16/01)