Despite industry-wide challenges caused by the pandemic, luxury hospitality company Four Seasons Hotels and Resorts’ outlook for 2022 builds upon the success of the past year, including the addition of new hotels, resorts and residences in key markets, and the extension of its standalone residential collection with new properties opening last year in Los Angeles and San Francisco.
Supporting this growth, the company’s long-standing shareholder, an affiliate of Cascade Investment LLC, closed this month on its acquisition of a majority stake in Four Seasons from its long-term investment partner, an affiliate of Kingdom Holding Company (KHC). The transaction marks a pivotal point for the company, further demonstrating Cascade’s commitment to provide Four Seasons with resources to accelerate growth, support its properties and owners and expand its strategic goals. KHC retains a 23.75% stake in Four Seasons and remains strongly dedicated to the company’s considerable opportunities.
“[This year] marks an important moment in the evolution of Four Seasons as we sharpen our development focus in key markets, strengthen our leadership position as an iconic luxury brand and capitalize on new opportunities that will continue to drive and diversify our growth,” said John Davison, president/CEO, Four Seasons Hotels and Resorts. “Realizing these opportunities means investing in our greatest competitive advantage—our people. For more than 60 years, the strength of Four Seasons has been grounded in our unmatched commitment to service excellence. As we grow with intention, so too do the opportunities for our people, ensuring we create an environment in which they can flourish.”
He continued, “Thriving employees ultimately deliver an exceptional guest experience. And as we adapt to the pandemic with innovations such as our Lead With Care health and safety program, the deep connection between the success of our employees and the service delivered to our guests has never been more important to Four Seasons’ long-term success.”
Elevating the global portfolio
Four Seasons is building on the momentum of its successful 2021 openings in strategic markets, including in Napa Valley, CA; New Orleans (shown above); and Taormina, Italy. The company continues to accelerate expansion worldwide with four openings planned for 2022, including new developments in Tamarindo, Mexico; Fort Lauderdale, FL; Nashville; and Minneapolis.
The company has more than 50 new projects under planning or development, including in Italy, Spain, China, Japan, Colombia, Belize and across key markets in the U.S., all of which will add to its existing portfolio of 122 hotels and resorts and 48 residential properties in 47 countries around the world.
“Four Seasons has a strong, strategic growth trajectory—an extensive pipeline of projects that will open in key global destinations, with visionary development partners who share our commitment to excellence,” said Bart Carnahan, president, global business development and portfolio management, Four Seasons Hotels and Resorts. “Our residential business in particular is a key pillar in our growth plans, with a five-year pipeline of $7 billion in gross sales value comprising more than 30 projects worldwide.”
He continued, “Our continued growth in residential, a space in which we’ve been a leader since 1985, speaks to our deep understanding of the luxury consumer—those who want to live and experience the Four Seasons lifestyle. With our development partners, we continue to capitalize on the right opportunities in markets that are relevant to luxury consumers, elevating our residential offering and ensuring that Four Seasons is the address of choice in every location where we operate.”
New standalone Private Residences, developments not connected to a hotel or resort, set to open in the coming years include Four Seasons Private Residences Dubai at Jumeirah—a project that fully sold out before public sales began; Four Seasons Private Residences Lake Austin; and Four Seasons Private Residences Marrakech at M Avenue. These new standalone developments join the company’s current collection in London, San Francisco and Los Angeles. Other upcoming residential developments connected to an existing or soon-to-open Four Seasons property include Fort Lauderdale, Minneapolis, Nashville, Mumbai, Cartagena and Belize.
As Four Seasons extends its portfolio globally, the company does so with consideration for Environmental, Social and Governance (ESG) priorities. It is committed to sustainable hospitality, including reducing carbon emissions, conserving water, eliminating waste and sourcing responsibly. To further its commitments to address waste and protect local ecosystems, the company aims to remove all single-use plastic from the guest experience by the end of 2022.