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Park Hyatt Buenos Aires and The Madison Resort, Golf & Spa in Uruguay |
TORONTO - Oct. 18, 2001-- Four Seasons Hotels
Inc. (NYSE:FS) (TSE:FSH) announced today that it has signed an agreement
to manage the Park Hyatt Buenos Aires and the Madison Resort, Golf &
Spa in Carmelo, Uruguay.
The two properties will be re-branded Four Seasons Hotel Buenos Aires and Four Seasons Resort Carmelo, Uruguay, respectively. Management by Four Seasons is expected to commence December 1, 2001. The two properties will be the Toronto-based company's first in Argentina and Uruguay, and will increase the presence of Four Seasons in South America, following the opening of Four Seasons Hotel Caracas in Venezuela in January 2001. The 165-room luxury Park Hyatt Buenos Aires is located near the fashionable Recoleta area, and was built on the site of a well known "Mansion", which was retained and restored; a new structure was also added to the site which contains the majority of the Hotel's guestrooms and public areas. An extensive refurbishment of the guestrooms and corridors, as well as selected public and back-of-house areas, will be undertaken. Since opening in 1992, the Hotel has maintained a leadership position
in Buenos Aires. Already the city's finest hotel, Four Seasons Hotel Buenos
Aires will become one of the world's best urban luxury properties. The
planned renovation, combined with the company's global brand reach, will
complement its excellent location, style and overall guest experience.
New facilities, including updated fitness/spa and dining options, will
place the Hotel beyond comparison in the local market and will help attract
international leisure and conference visitors as well.
"We are delighted to be able to expand our portfolio in South America, where there are still many opportunities for us to grow," said Isadore Sharp, chairman and CEO, Four Seasons Hotels and Resorts. "Together these two excellent properties will introduce our unique brand of personalised, anticipatory service to the region, and fulfill the growing need for luxury accommodations with superior levels of service and amenities to support global travelers in this dynamic part of the world." With a history spanning four decades and a portfolio that now extends to six continents, Four Seasons Hotels and Resorts is the world's leading operator of luxury hotels, currently managing 51 properties in 22 countries. This year, the company has opened hotels in San Francisco, Dublin, Prague and Caracas, and continues to expand, with over 20 projects in development stages in choice locations around the world. Four Seasons has claimed first position on many prestigious lists; recent honours include top ranking in the J.D. Powers Guest Satisfaction Survey; AAA Five Diamond awards (receiving more than other any hotel company for the 20th consecutive year), and the Zagat Survey 2001 (ranked as "Top Hotel Chain in the U.S." and Top Hotel Chain" internationally). |
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Contact:
Four Seasons Hotels and
Resorts (Toronto)
Kathleen Taylor, 416/449-1750 www.fourseasons.com |