our Seasons Plans To Expand Around Globe

TORONTO, CANADA?Several milestones are being celebrated at Four Seasons Hotels and Resorts as the company embarks on a substantial international expansion strategy. Approximately 19 new properties are slated for opening between 2000 and 2004, including Four Seasons? first Middle Eastern (Cairo), South American (Caracas) and ski (Whistler, British Columbia) hotels/resorts. In addition, the luxury operator will fill in two key U.S. markets with new hotel properties in San Francisco and Miami. It also recently opened its first property in Latin America (Punta Mita, Mexico). An emphasis is being placed on the growth of Four Seasons? resort presence, with at least six of the new properties coming on-line representing the resort segment in various parts of the world. These resorts include: the Four Seasons Resort Whistler, which will offer 254 guest- rooms at the base of Blackcomb Mountain and is slated to open in 2002; the Four Seasons Resort Great Exuma at Emerald Bay, The Bahamas, which will offer 235 guestrooms as part of a larger residential resort community on 470 acres; the Four Seasons Resort Costa Rica located on the Papagayo Peninsula, which will provide 170 guestrooms and 40 villas once open in 2002; the Four Seasons Resort Puerto Rico, which will be located on the northeast coast of the island known as San Miguel with 350 guestrooms and suites slated to open in 2003; the Four Seasons Resort Cote d?Azur, France? the company?s first resort in France, expected to open in 2002 with 100 guestrooms; and the Four Seasons Resort Sharm El Sheikh, Egypt, which will feature 141 guestrooms, 112 chalets, and 34 villas. Growing Resort Product According to Roy Paul, senior vp/development for Four Seasons, the resort segment will remain a focus as the company grows. ?The emphasis there [in the resort segment]is in response to the size of our business. As we get bigger we can support these types of properties. It also meets the needs of our growing customer base and their expectations,? said Paul. He noted that the first European resort in France ?is an important step for us to providing destinations in Europe.? It will be part of a larger mixed-residential and resort community on a 658-acre site near the Provencal village of Fayence, 15 miles northeast of Cannes. Several benchmarks in the company?s history were achieved just in the last year, according to Paul. The Four Seasons Paris opened in December 1999. This project was described as ?much anticipated and important in establishing Four Seasons in Europe,? he said. A Four Seasons in Scottsdale, AZ, also opened in December 1999, ?providing a key vacation spot between California and Florida.? For the most part, Four Seasons is sticking with new construction to accomplish its expansion, with a few exceptions like the renovation of the Gresham Palace, built in 1906 in Budapest. The Palace will be recreated as a luxury 155-room hotel with pre-war historical elegance. With interest in the luxury segment high, Paul said that Four Seasons is doing a good job of forming relationships with those willing investors who are looking for opportunities to get into the luxury sector. Hotels Coming On-Line Additional hotel developments that are slated for opening by 2004 at Four Seasons include: the Four Seasons Hotel San Francisco, which will be a part of a mixed-use development, offering 277 guestrooms and 16,000 square feet of meeting space; the Four Seasons Hotel Miami, offering 297 guestrooms as part of a mixed-use facility scheduled to open in 2002; the Four Seasons Hotel Caracas, Venezuela, which will offer 205 guestrooms; the Four Seasons Hotel Dublin, Ireland, which will be set on the historic Royal Dublin Society?s 42-acre show grounds and offer 258 guestrooms; and the 160-room Four Seasons Hotel Prague set to open in 2001. Other anticipated openings include: the Four Seasons Hotel Gresham Palace Budapest, which is expected to open in 2002; the 440-room Four Seasons Hotel Shanghai,