Commenting on the announcement, Isadore Sharp, Chairman and Chief Executive Officer of Four Seasons Hotels and Resorts said �This is an exciting time for Four Seasons, as we undergo the largest expansion in our 40-year history. All these projected openings are in keeping with Four Seasons� focused growth strategy, which targets key destinations, both resort and urban, where we will operate as long-term managers of luxury hotel properties�.

The focus on resort destinations presents increased long-term potential for expanding the Four Seasons brand. These projects generally include superior spa and golf facilities, and often will include a Four Seasons Residence Club, our residential interval ownership product. Also in these plans is Four Seasons� entry into traditional ski territory. 

President and Chief Corporate Officer Kathleen Taylor commented �This expansion provides the possibility of enhanced revenue potential from a variety of sources within mixed-use developments, including the hotel, residential and golf facilities.�

At the two urban locations, Four Seasons hotels will introduce a new level of quality for both business and leisure travelers, featuring renowned Four Seasons services and superb facilities. Each of these hotels will include the city�s most spacious guestrooms and suites. The introduction of sophisticated business facilities and state-of-the-art meeting space will create attractive new options for corporate travelers and meeting planners. Recreational facilities at each property will include a health club and pool, ideal for the use of leisure visitors to these historic and culturally rich ancient cities. Visitors to each of these new properties will experience the elegance, and the personalized intuitive service enjoyed by Four Seasons� guests around the world.

New property details 

Four Seasons Resort Great Exuma at Emerald Bay, The Bahamas, is scheduled to open in late 2001. Set within a larger, master-planned residential resort community on 470 acres, the 235-room property will be developed by Emerald Bay Resort and Co. and its affiliates. The mixed-use project will feature a Four Seasons branded championship golf course designed by Greg Norman, with accompanying clubhouse, a 60-unit Four Seasons Residence Club, a full-service spa, and multiple dining venues.
 

The Hotel�s 170 guest rooms and suites and 40 villa units will be designed in one- and two-story buildings forming a landscaped �hillside village� overlooking the ocean. The property will offer two dining venues plus poolside dining, a full-service spa and health club, four tennis courts and a tennis center, fresh-water swimming pools, water sports facilities, a Four Seasons championship golf course by a leading designer plus access to two additional courses, and a 40-unit Four Seasons Residence Club. A marina and possibly a casino are on the drawing board for the master resort project.

Four Seasons Resort Cote d�Azur, France, is expected to open in the spring of 2002, following development by Coreal Management on behalf of Golf Resort �Terre Blanche� S.A.R.L. Tourettes - Chateau Terre Blanche, a company controlled by Dietmar Hopp (one of the founders of SAP AG) and his sons. The Hotel will be part of a larger mixed-residential and resort community on a 658-acre site near the Provencal village of Fayence, about 15 miles north-east of Cannes. With views of Tourrettes, Fayence and the Haut-Maritime Alps, the
100-room property will have on-site a tennis center and two David Thomas-designed championship golf courses, all to be managed by Four Seasons. The development will also include a 150-unit residential villa complex.

Four Seasons Resort Puerto Rico, with a projected 2003 opening, the Company has entered into an agreement for the development of Four Seasons Resort Puerto Rico within the larger resort community proposed for the site on the northeast coast of the island known as San Miguel. The Hotel will offer 350 guest rooms and suites, multiple dining venues and 30,000 square feet of meeting space. Recreational areas will include a casino, a tennis center, beach club, and at least one Four Seasons branded championship golf course by a major designer.  Future plans include a 100-unit vacation home development and Four Seasons Residence Club.

Four Seasons Hotel Alexandria, Egypt, is located within a multi-component project on the site of the former San Stefano Hotel on Shari El Corniche, overlooking the Mediterranean. Talaat Mostafa, the developer, is also responsible for two other Four Seasons properties in Egypt (Four Seasons Resort Sharm El Sheikh and Four Seasons Hotel, Cairo at Nile Plaza). The 120-room Hotel will offer spectacular views of the Mediterranean Sea, three restaurants, a tea lounge, library bar and a cafe/bistro. A sophisticated business center is planned, plus meeting space and an independent ballroom facility. Recreational facilities will include a health club and outdoor pool. The Hotel will additionally service 120 residential units.

Four Seasons Hotel Beirut, Lebanon, is to be developed for a late 2002 opening by Kingdom-Beirut S.A.L. on one of the most prestigious sites in the city�s Central Business District, which has recently undergone a major re-development program with new infrastructure. This area is a prime focus in the city�s re-positioning as a leading commercial, financial and cultural center of the Middle East. Located on the Corniche, opposite a new marina and adjacent to a large park now in planning, the Hotel will offer both ocean and mountain views. Historic sites and the Souk shopping district are a short walk away. The mixed-use site will include residences, retail outlets and offices. The Hotel structure is expected to feature a seven-story podium and a 19-story tower housing 287 guest rooms and suites, with a small health club and pool on top. Two restaurants will be complemented by a tea lounge and library bar; a business center and meeting space will open up new options for corporate travelers.