FOUR SEASONS HOTELS AND RESORTS EXPANDS ITS ASIAN PORTFOLIO WITH AN AGREEMENT TO OPERATE NEW HOTEL IN HONG KONG

Four Seasons Hotels Inc. confirmed that it has finalized an agreement to manage the new Four Seasons Hotel Hong Kong, which will be the Toronto-based company’s first Four Seasons-branded property in the city. The new luxury hotel will be part of the prestigious Hong Kong station mixed-use development, located in the centre of Hong Kong’s Central district and financial core. The Hotel will be the second property for the company in China, following the opening of Four Seasons Hotel Shanghai.

Ideally situated in the heart of Hong’s Kong’s vibrant financial district, the Hotel will serve as a base for both the international business traveler and visitors to the city who want to experience all that Hong Kong has to offer. The Hotel is part of a larger mixed-use development consisting of four tower buildings, including two landmark office towers of 88 floors and 38 floors, a 48 story luxury Four Seasons Suites and the 38 story Four Seasons hotel. The Hotel is expected to open in 2004 and the Company will not be an investor in the project.

Four Seasons Hotel Hong Kong will have about 400 guestrooms, four restaurants, extensive meeting and function space and health and fitness facilities. The Hotel will set new standards for excellence in a city renowned for its outstanding accommodation options. Four Seasons Hotel Hong Kong will also provide service to the complex’s luxury apartments.

“This agreement signifies that we have made a major, long-term commitment to Hong Kong and the Hong Kong station project, which we see as a major focus for development in the 21st century,” said Isadore Sharp, Chairman and Chief Executive Officer. “We are delighted to be able to partner the Four Seasons brand with this prestigious project, one of Hong Kong’s most significant developments in years.”