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Canadian headquartered international hotel chain From Wikipedia, the free encyclopedia
Four Seasons Hotels Limited, trading as Four Seasons Hotels and Resorts, is a Canadian luxury hotel and resort company[3] headquartered in Toronto, Ontario, Canada.[4] Four Seasons currently operates more than 100 hotels and resorts worldwide.[5] Since 2007, Bill Gates (through Cascade Investment) and Prince Al-Waleed bin Talal (through Kingdom Holding Company) have been majority owners of the company.[6] As of January 2022, Cascade Investment owns 71.25% and Kingdom Holding Company owns 23.75% of the hotel and resort company.[7]
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Four Seasons Hotels and Resorts | |
Company type | Private |
Industry | Hospitality |
Founded | 21 March 1961 |
Founder | Isadore Sharp |
Headquarters | Toronto, Ontario , Canada |
Number of locations | 129 properties in 44 countries |
Key people | Isadore Sharp (Chairman) Alejandro Reynal (CEO) |
Revenue | ![]() |
Owner | Cascade Investment Kingdom Holding Company Triples Holding |
Number of employees | 45,000 (2018)[2] |
Website | www |
Canadian businessman Isadore Sharp founded Four Seasons in 1960. While a young architect working for his father, Sharp designed a motel for a family friend; its success motivated him to try creating his own hotel. He bought a large parcel of land in a run-down area of Toronto and planned a stopover for business travelers; the Four Seasons Motor Hotel opened in 1961 with initial investors, Murray Koffler, Fred Eisen, and Eddie Creed.[8]
Four Seasons built more hotels, including the 1963 Inn on the Park, a $4 million two-story resort hotel in suburban Toronto that housed Canada's first discothèque.[9][10]
Upscale luxury became part of the brand when the company expanded to London. When a developer approached Four Seasons about building a hotel in London, Sharp planned it to compete with the city's old-world, elite hotels, such as Claridge's and The Connaught.[4] The Inn on the Park hotel in London opened in 1970.[5]
The lead consultant was the architecture firm Aedas.[11]
In 1974, cost overruns at the Four Seasons Hotel Vancouver nearly led the company into bankruptcy. As a result, the company began shifting to its current, management-only business model, eliminating costs associated with buying land and buildings. The company went public in 1986.[5] In the 1990s, Four Seasons and Ritz-Carlton began direct competition, with Ritz-Carlton emphasizing a uniform look while Four Seasons emphasized local architecture and styles with uniform service; in the end Four Seasons gained market share.[5]
Built in 1986,[12][13] Four Seasons Hotel Austin is a nine-story hotel on 2.3 acres (0.93 ha) of land on the Lady Bird Lake's north shore.[14] In 1997, Four Seasons Hotel Austin became the first hotel to have "a high-speed wireless Internet network" after Wayport, Inc. set it up there for testing wireless Internet networks.[15] The hotel hosted Queen Elizabeth II in 1991 when she visited Texas.[16] It was acquired by Anbang Insurance Group from the Blackstone Group for $359.7 million in 2016.[14]
In 1992, Four Seasons acquired Regent Hotels & Resorts.[17] Most Regent hotels that were in the pipeline at the time, such as the ones in Bali and Istanbul, were opened as a Four Seasons, while the existing portfolio, such as the Beverly Wilshire, were allowed to temporarily retain the Regent brand until they have achieved the criteria to become a Four Seasons.[18] Carlson acquired the rights to develop new hotels under the Regent brand in 1998, and by the mid-2000s, most of the older Regent properties have rebranded into Four Seasons, with the notable exception of Regent Singapore. In the wake of Regent's purchase by IHG Hotels & Resorts in 2018, Four Seasons announced that it would cease its management of Regent Singapore, therefore ending the company's 26-year-long association with the name.[19]
Economic downturns in the early and mid-2000s affected the company. When the September 11 attacks caused the collapse of the travel industry, Four Seasons refused to cut room prices in order to preserve the perceived value of the brand, which caused tension with property owners who were losing money.[5] The company recovered, and in 2007 it agreed to a buyout by Microsoft Chairman Bill Gates and Prince Al-Waleed bin Talal of Saudi Arabia for $3.8 billion.[20] The pair own 95 percent of the company, and Sharp owns the remainder.[5]
Challenges returned again during the financial crisis of 2007–2010. The company made the first corporate layoffs in its history, cutting 10% of its Toronto workforce.[5] In April 2010, after a year-long dispute with Broadreach Capital Partners and Maritz, Wolff & Co., owners of the Aviara resort near San Diego, an arbitration panel ruled that, while both parties contributed to the demise of the business relationship, Four Seasons had not violated its management agreement. The arbitrators ordered Broadreach to pay Four Seasons to terminate the contract."[21] The resort is no longer a Four Seasons.
Four Seasons has continued to add more hotels and resorts to its portfolio, notably in China. It opened a new hotel in Hangzhou in 2010 and Guangzhou, Beijing, and a second property in Shanghai in 2012. In India, it has two hotels — one in Mumbai and other one in Bangalore.[22] In 2013, it opened its first hotel in Russia in the Lobanov-Rostovsky Palace in St. Petersburg, and later opened a second hotel in Moscow. In Indonesia, it has one hotel in Jakarta and another two in Bali. In October 2012, Four Seasons opened a new 259-room Toronto hotel in Yorkville, designed by internationally known design firm Yabu Pushelberg. The hotel includes an upscale restaurant led by celebrity chef Daniel Boulud. It was hailed by The Globe and Mail as "the renewal of an iconic Canadian brand in its hometown".[23] The penthouse was bought by entrepreneur Robert Österlund (founder of Xacti, LLC and Inbox.com) for a Canadian record price of over $28 million.[24]
In 2009, founder Sharp wrote a memoir titled Four Seasons: The Story of Business Philosophy. It contained a historical chronicle of the hotels since its inception.[25]
In September 2021, Cascade announced it will increase its existing 47.5% stake to 71.25% by purchasing, for $2.21 billion in cash, half of the existing 47.5% stake owned by the Saudi Kingdom Holding Company (KHC).[26]
Four Seasons does not own any of its properties;[27] it operates them on behalf of real estate owners and developers. For example, its New York Downtown hotel/residence is owned by Silverstein Properties, and its Las Vegas hotel is part of the Mandalay Bay complex. The contracts between Four Seasons and property owners typically permit the company to participate in the design of the property and run it with nearly total control over every aspect of the operation.[5]
Four Seasons generally earns three percent of the gross income and about five percent of profits from the properties it operates. Property owners are required to additionally contribute money for marketing, chain-wide sales, reservations systems and renovations. Four Seasons hotels have larger staffs than competing chains, and the company maintains separate reserve accounts for each hotel to cover upkeep costs. Profit margins are relatively low, but the brand attracts developers through the hotels' reputation as solid assets for loan collateral or resale.[5]
Four Seasons Hotels and Resorts began offering vacation rentals in June 2014. Titled Residential Rentals, the properties are available in: North America (Costa Rica, Houston, Jackson Hole, Nevis, Punta Mita, San Diego, Whistler, Vail). Africa (Marrakech, Mauritius, Seychelles, Sharm El Sheikh), Europe (Cap-Ferrat) and Asia (Bali at Jimbaran Bay, Jakarta, Chiang Mai, Koh Samui, Bangkok). The first stand alone Four Seasons Private Residences opened in London at 20 Grosvenor Square, Mayfair in July 2019. It will be the third Four Seasons venue in London.[28]
Residential Rentals provide the same services as Four Seasons Hotels and Resorts in a residential setting. Customers are mainly multi-generational vacationers and small group travellers.[29]
Four Seasons has a total of 53 hotels in North America and the Caribbean:
No. | Name | Location | Country | Opening Year | Ref(s) |
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1 | Beverly Wilshire, a Four Seasons Hotel | Beverly Hills | United States | 1992[lower-alpha 1] |
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2 | Four Seasons Hotel and Residences Fort Lauderdale | Fort Lauderdale | United States | 2022 |
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3 | Four Seasons Hotel at The Surf Club | Surfside | United States | 2017 |
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4 | Four Seasons Hotel Atlanta | Atlanta | United States | 1997 |
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5 | Four Seasons Hotel Austin | Austin | United States | 1986 |
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6 | Four Seasons Hotel Baltimore | Baltimore | United States | 2011 |
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7 | Four Seasons Hotel Boston | Boston | United States | 1985 |
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8 | Four Seasons Hotel Chicago | Chicago | United States | 1989 |
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9 | Four Seasons Hotel Denver | Denver | United States | 2010 |
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10 | Four Seasons Hotel Houston | Houston | United States | 1982 |
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11 | Four Seasons Hotel Las Vegas | Las Vegas | United States | 1999 |
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12 | Four Seasons Hotel Los Angeles at Beverly Hills | Los Angeles | United States | 1987 |
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13 | Four Seasons Hotel Mexico City | Mexico City | Mexico | 1994 |
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14 | Four Seasons Hotel Miami | Miami | United States | 2003 |
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15 | Four Seasons Hotel Minneapolis | Minneapolis | United States | 2022 |
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16 | Four Seasons Hotel Montreal | Montreal | Canada | 2019 |
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17 | Four Seasons Hotel Nashville | Nashville | United States | 2022 |
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18 | Four Seasons Hotel New Orleans | New Orleans | United States | 2021 |
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19 | Four Seasons Hotel New York | New York City | United States | 1993 |
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20 | Four Seasons Hotel New York Downtown | New York City | United States | 2016 |
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21 | Four Seasons Hotel One Dalton Street, Boston | Boston | United States | 2019 |
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22 | Four Seasons Hotel Philadelphia at Comcast Center | Philadelphia | United States | 2019 |
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23 | Four Seasons Hotel San Francisco | San Francisco | United States | 2001 |
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24 | Four Seasons Hotel San Francisco at Embarcadero | San Francisco | United States | 2020 |
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25 | Four Seasons Hotel Seattle | Seattle | United States | 2008 |
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26 | Four Seasons Hotel Silicon Valley at East Palo Alto | East Palo Alto | United States | 2006 |
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27 | Four Seasons Hotel St. Louis | St. Louis | United States | 2008 |
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28 | Four Seasons Hotel Toronto | Toronto | Canada | 2012 |
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29 | Four Seasons Hotel Washington, D.C. | Washington, DC | United States | 1979 |
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30 | Four Seasons Hotel Westlake Village | Westlake Village | United States | 2006 |
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31 | Four Seasons Residence Club San Diego, Aviara | Carlsbad | United States | 1998 |
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32 | Four Seasons Resort and Residences Anguilla | Anguilla | United Kingdom | 2016 |
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33 | Four Seasons Resort and Residences Cabo San Lucas at Cabo del Sol | Cabo San Lucas | Mexico | 2024 |
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34 | Four Seasons Resort and Residences Jackson Hole | Jackson Hole | United States | 2003 |
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35 | Four Seasons Resort and Residences Napa Valley | Calistoga | United States | 2021 |
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36 | Four Seasons Resort and Residences Vail | Vail | United States | 2010 |
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37 | Four Seasons Resort and Residences Whistler | Whistler | Canada | 2004 |
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38 | Four Seasons Resort Hualālai | Hualālai | United States | 1996 |
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39 | Four Seasons Resort Lanai | Lānaʻi | United States | 2005 |
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40 | Four Seasons Resort Los Cabos at Costa Palmas | Los Cabos | Mexico | 2019 |
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41 | Four Seasons Resort Maui at Wailea | Wailea | United States | 1990 |
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42 | Four Seasons Resort Nevis | Nevis | Saint Kitts and Nevis | 1991 |
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43 | Four Seasons Resort Oahu at Ko Olina | Ko Olina | United States | 2016 |
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44 | Four Seasons Resort Orlando at Walt Disney World® Resort | Orlando | United States | 2014 |
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45 | Four Seasons Resort Palm Beach | Palm Beach | United States | 1994 |
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46 | Four Seasons Resort Punta Mita | Punta Mita | Mexico | 1999 |
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47 | Four Seasons Resort Rancho Encantado | Santa Fe | United States | 2012 |
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48 | Four Seasons Resort Scottsdale at Troon North | Scottsdale | United States | 1999 |
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49 | Four Seasons Resort Tamarindo Mexico | Jalisco | Mexico | 2022 |
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50 | Four Seasons Resort The Biltmore Santa Barbara | Santa Barbara | United States | 1987 |
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51 | Naviva®, a Four Seasons Resort | Punta Mita | Mexico | 2022 |
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52 | Sensei Lanai, a Four Seasons Resort | Lānaʻi | United States | 2019 |
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53 | The Ocean Club, a Four Seasons Resort | Nassau | The Bahamas | 2017 |
Four Seasons has a total of 4 hotels in Central and South America.[84]
No. | Name | Location | Country | Opening Year | Ref(s) |
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1 | Four Seasons Hotel Bogotá | Bogotá | Colombia | 2016 |
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2 | Four Seasons Hotel Buenos Aires | Buenos Aires | Argentina | 1992 |
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3 | Four Seasons Hotel Casa Medina Bogotá | Bogotá | Colombia | 2015 |
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4 | Four Seasons Resort Costa Rica at Peninsula Papagayo | Papagayo Peninsula | Costa Rica | 2004 |
Four Seasons has a total of 19 hotels in Europe.[89]
No. | Name | Location | Country | Opening Year | Ref(s) |
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1 | Four Seasons Astir Palace Hotel Athens | Athens | Greece | 2019 |
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2 | Four Seasons Hotel Baku | Baku | Azerbaijan | 2012 |
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3 | Four Seasons Hotel des Bergues Geneva | Geneva | Switzerland | 2005 |
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4 | Four Seasons Hotel Firenze | Florence | Italy | 2008 |
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5 | Four Seasons Hotel George V Paris | Paris | France | 1999 |
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6 | Four Seasons Hotel Gresham Palace Budapest | Budapest | Hungary | 2004 |
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7 | Four Seasons Hotel Hampshire | Hampshire | United Kingdom | 2005 |
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8 | Four Seasons Hotel Istanbul at Sultanahmet | Istanbul | Turkey | 1996 |
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9 | Four Seasons Hotel Istanbul at the Bosphorus | Istanbul | Turkey | 2008 |
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10 | Four Seasons Hotel London at Park Lane | London | United Kingdom | 1970[lower-alpha 2] |
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11 | Four Seasons Hotel London at Ten Trinity Square | London | United Kingdom | 2017 |
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12 | Four Seasons Hotel Madrid | Madrid | Spain | 2020 |
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13 | Four Seasons Hotel Megève | Megève | France | 2017 |
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14 | Four Seasons Hotel Milano | Milan | Italy | 1993 |
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15 | Four Seasons Hotel Prague | Prague | Czech Republic | 2001 |
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16 | Four Seasons Hotel Ritz Lisbon | Lisbon | Portugal | 1998 |
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17 | Grand-Hôtel du Cap-Ferrat, a Four Seasons Hotel | French Riviera | France | 2015 |
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18 | Les Chalets du Mont d'Arbois, Megève, a Four Seasons Hotel | Megève | France | 2019 |
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19 | San Domenico Palace, Taormina, a Four Seasons Hotel | Taormina | Italy | 2021 |
Four Seasons has a total of 22 hotels in the Middle East and Africa.[89]
No. | Name | Location | Country | Opening Year | Ref(s) |
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1 | Four Seasons Hotel Abu Dhabi at Al Maryah Island | Abu Dhabi | United Arab Emirates | 2016 |
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2 | Four Seasons Hotel Alexandria at San Stefano | Alexandria | Egypt | 2007 |
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3 | Four Seasons Hotel Amman | Amman | Jordan | 2003 |
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4 | Four Seasons Hotel Bahrain Bay | Manama | Bahrain | 2015 |
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5 | Four Seasons Hotel Beirut | Beirut | Lebanon | 2010 |
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6 | Four Seasons Hotel Cairo at Nile Plaza | Cairo | Egypt | 2004 |
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7 | Four Seasons Hotel Cairo at the First Residence | Cairo | Egypt | 2000 |
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8 | Four Seasons Hotel Casablanca | Casablanca | Morocco | 2015 |
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9 | Four Seasons Hotel Doha | Doha | Qatar | 2005 |
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10 | Four Seasons Hotel Dubai International Financial Centre | Dubai | United Arab Emirates | 2016 |
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11 | Four Seasons Hotel Kuwait at Burj Alshaya | Kuwait City | Kuwait | 2017 |
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12 | Four Seasons Hotel Riyadh at Kingdom Centre | Riyadh | Saudi Arabia | 2003 |
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13 | Four Seasons Hotel the Westcliff Johannesburg | Johannesburg | South Africa | 2014 |
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14 | Four Seasons Hotel Tunis | Tunis | Tunisia | 2017 |
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15 | Four Seasons Resort and Residences at The Pearl-Qatar | Doha | Qatar | 2023 |
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16 | Four Seasons Resort Dubai at Jumeirah Beach | Dubai | United Arab Emirates | 2014 |
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17 | Four Seasons Resort Marrakech | Marrakesh | Morocco | 2011 |
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18 | Four Seasons Resort Mauritius at Anahita | Flacq | Mauritius | 2008 |
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19 | Four Seasons Resort Seychelles | Mahé | Seychelles | 2009 |
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20 | Four Seasons Resort Seychelles at Desroches Island | Desroches Island | Seychelles | 2018 |
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21 | Four Seasons Resort Sharm El Sheikh | Sharm El Sheikh | Egypt | 2002 |
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22 | Four Seasons Safari Lodge Serengeti | Serengeti National Park | Tanzania | 2012 |
Four Seasons has a total of 32 hotels in Asia and the Pacific region.[131]
No. | Name | Location | Country | Opening Year | Ref(s) |
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1 | Four Seasons Hotel Bangkok at Chao Phraya River | Bangkok | Thailand | 2020 |
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2 | Four Seasons Hotel Beijing | Beijing | China | 2012 |
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3 | Four Seasons Hotel Bengaluru at Embassy One | Bangalore | India | 2019 |
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4 | Four Seasons Hotel Dalian | Dalian | China | 2024 |
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5 | Four Seasons Hotel Guangzhou | Guangzhou | China | 2012 |
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6 | Four Seasons Hotel Hangzhou at West Lake | Hangzhou | China | 2010 |
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7 | Four Seasons Hotel Hong Kong | Hong Kong | China | 2005 |
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8 | Four Seasons Hotel Jakarta | Jakarta | Indonesia | 2016 |
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9 | Four Seasons Hotel Kuala Lumpur | Kuala Lumpur | Malaysia | 2018 |
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10 | Four Seasons Hotel Kyoto | Kyoto | Japan | 2016 |
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11 | Four Seasons Hotel Macao at Cotai Strip | Macau | China | 2008 |
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12 | Four Seasons Hotel Mumbai | Mumbai | India | 2006 |
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13 | Four Seasons Hotel Seoul | Seoul | South Korea | 2015 |
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14 | Four Seasons Hotel Shenzhen | Shenzhen | China | 2013 |
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15 | Four Seasons Hotel Singapore | Singapore | Singapore | 1994 |
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16 | Four Seasons Hotel Suzhou | Suzhou | China | 2023 |
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17 | Four Seasons Hotel Sydney | Sydney | Australia | 1992[lower-alpha 3] |
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18 | Four Seasons Hotel Tianjin | Tianjin | China | 2017 |
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19 | Four Seasons Hotel Tokyo at Marunouchi | Tokyo | Japan | 2002 |
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20 | Four Seasons Hotel Tokyo at Otemachi | Tokyo | Japan | 2020 |
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21 | Four Seasons Private Island Voavah at Baa Atoll | Baa Atoll | Maldives | 2016 |
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22 | Four Seasons Resort Bali at Jimbaran Bay | Bali | Indonesia | 1993 |
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23 | Four Seasons Resort Bali at Sayan | Bali | Indonesia | 1998 |
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24 | Four Seasons Resort Bora Bora | Bora Bora | France | 2008 |
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25 | Four Seasons Resort Chiang Mai | Chiang Mai | Thailand | 1995[lower-alpha 4] |
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26 | Four Seasons Resort Koh Samui | Ko Samui | Thailand | 2007 |
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27 | Four Seasons Resort Langkawi | Langkawi | Malaysia | 2005 |
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28 | Four Seasons Resort Maldives at Kuda Huraa | Kaafu Atoll | Maldives | 1998 |
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29 | Four Seasons Resort Maldives at Landaa Giraavaru | Baa Atoll | Maldives | 2006 |
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30 | Four Seasons Resort The Nam Hai, Hoi An | Hội An | Vietnam | 2016 |
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31 | Four Seasons Tented Camp Golden Triangle | Golden Triangle | Thailand | 2006 |
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32 | The Grand Suites at Four Seasons | Macau | China | 2020 |
In September 2022, the Four Seasons announced it was launching Four Seasons Yachts, with its first super yacht scheduled to hit the high seas in 2025.[185] In June 2023, the company confirmed plans for a second ship due for delivery in 2026.[186]
In 2003, Four Seasons Explorer, a luxury three-deck catamaran with 11 rooms, began to sail in the Maldives. Visitors from the Maldives' two Four Seasons resorts, Kuda Huraa and Landaa Giraavaru, could either book rooms or charter the entire ship for trips that lasted from three to seven days.[187] After two decades, the ship left the Maldives in 2023 for Palau, where Four Seasons began offering tours at the end of that year.[188]
Travel + Leisure magazine and Zagat Survey rank the hotel chain's properties among the top luxury hotels worldwide.[189][190] Readers of Conde Nast Traveler magazine have voted Four Seasons Tented Camp Golden Triangle in Chiang Rai, Thailand as among the top ten hotels in the world for three consecutive years.[191] The company has been named one of the "100 Best Companies to Work For" by Fortune every year since the survey's inception in 1998, ranking No. 47 in 2015,[192] and is lauded for having one of the lowest employee turnover rates in the hospitality industry.[192][193]
In recent years, restaurants at Four Seasons hotels and resorts have been recognized by Zagat and Michelin. The latter has awarded a total of 29 stars to 20 of the company's restaurants, including Four Seasons Hotel Hong Kong (three restaurants), Paris (three restaurants), Beijing (two restaurants) and Florence.[194]
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