Four Seasons Hotels is one of the world’s leading managers of luxury hotels and resorts with a portfolio of 74 luxury hotels and resort properties containing 18,090 guest rooms as of March 2007. These properties are marketed under the brand name Four Seasons in 30 countries.

In November 1994, a minority interest in Four Seasons was acquired pursuant to a private investment in public equity (PIPE) transaction. At the time, the KHC recognized the opportunity to invest, at an attractive price, in a hotel manager it believed was capable of becoming a global leader in the luxury segment. The acquisition was a strategic investment made for the purpose of accessing Four Seasons' brand and management skills for the hotel portfolio. Since the investment, both the KHC and KHI have selected Four Seasons to operate hotels that they have acquired or developed.

In November 2006, Kingdom Hotels International, Cascade Investment LLC and Triples Holdings launched an offer to take Four Seasons private. The transaction closed in April 2007. Upon closing Kingdom Hotels International and Cascade Investment will hold 45.0 percent each, and the remaining 10 percent interest will be controlled by Isadore Sharp.

Four Seasons has a pipeline of 30 properties under construction or development, indicating growth for the foreseeable future. The Company intends to continue to provide ongoing support to Four Seasons on a project by project basis.