Four Seasons strategic growth driven by strong development pipeline and enhanced business strategy in 2022 and beyond
Rooted in its renowned people and culture of service, the iconic luxury brand continues to accelerate its expansion plans in key markets globally
TORONTO, January 25, 2022 /PRNewswire/ — Luxury hospitality company Four Seasons Hotels and Resorts continues to solidify its leadership position through the strategic expansion of its portfolio of hotels, resorts and residential developments. The company is also expanding its luxury lifestyle offering through the growth of Private Retreats, its portfolio of luxury villa and vacation home rentals, its bespoke private jet experience and through the Luxury Goods Collection. Four Seasons at Home.
Despite industry-wide challenges caused by the pandemic, Four Seasons’ outlook for 2022 builds on the success of the past year, including the addition of new hotels, resorts and very popular residences. expected in key markets, and expanding its standalone residential collection with new properties opening last year in Los Angeles and San Francisco.
Supporting this growth, the company’s longtime shareholder, a subsidiary of Cascade Investment, LLC (Cascade), this month completed its acquisition of a majority stake in Four Seasons from its longtime investment partner. term, a subsidiary of Kingdom Holding Company (KHC). The transaction marks a milestone for the company, further demonstrating Cascade’s commitment to providing Four Seasons with the resources to accelerate growth, support the properties and owners of the company, and expand its strategic objectives. KHC retains a 23.75% stake in Four Seasons and remains strongly committed to the significant opportunities of the business.
“2022 dots an important moment in the evolution of Four Seasons as we refine our development focus in key markets, solidify our leadership position as an iconic luxury brand and capitalize on new opportunities that will continue to drive and diversify our growth », declares John Davison, President and 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 built on our unparalleled commitment to service excellence. As we grow with intention, opportunities for our people, making sure to create an environment in which they can thrive.”
Davison continues, “Thriving employees ultimately deliver an exceptional customer 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 provided to our guests has never been more important to the long-term success of Four Seasons.”
Elevate Four Seasons Global Portfolio
Four Seasons is building on the momentum of its successful openings in 2021 in strategic markets, particularly in Napa Valley, California; New Orleans, Louisiana; and Taormina, Italy. The company continues to accelerate its expansion plans worldwide with four openings scheduled for 2022, including exciting new developments in Tamarind, Mexico; Fort Lauderdale, Florida; Nashville, TN and Minneapolis, Minnesota. Along with the accelerating pace of new openings, high valuations and growing demand for existing Four Seasons properties managed on behalf of owners speaks to the strength of the Four Seasons brand.
Four Seasons has more than 50 new projects in planning or development, including in Italy, Spain, China, Japan, Colombia, Belize and in key markets in the United States, which will add to the company’s existing portfolio of 122 hotels and resorts and 48 residential properties in 47 countries around the world.
“Four Seasons has a solid and 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 of our growth plans, with a five-year pipeline of $7 billion in gross sales value including more than 30 projects worldwide.”
Carnahan continues, “Our continued growth in the residential sector, a space in which we have been a leader since 1985, demonstrates our deep understanding of the luxury consumer – those who want to live and experience the Four Seasons lifestyle. Together with our development partners, we continue to capitalize on good opportunities in markets relevant to luxury consumers, enhancing our residential offering and ensuring that Four Seasons is the address of choice in all locations where we operate. . »
New stand-alone private residences, developments not tied to a hotel or resort, set to open in the coming years include Four Seasons Private Residences Dubai at Jumeirah – a project that sold out entirely 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 tied to an existing or soon-to-open Four Seasons property include Fort Lauderdale, Minneapolis, Nashville, Bombay, Cartagena and Belize.
As Four Seasons expands its portfolio globally, the company does so with consideration of environmental, social and governance (ESG) priorities. Four Seasons is committed to sustainable hospitality, including reducing carbon emissions, conserving water, eliminating waste and sourcing responsibly. To continue its commitments to fight waste and protect local ecosystems, the company aims to remove all single-use plastic from the guest experience by the end of 2022. Four Seasons has a long history of employee care, community support and philanthropy. The company’s commitment to supporting cancer research and advancing diversity, inclusion, equality and belonging in Four Seasons offices and properties around the world is at the heart of Four Seasons employee experience and social impact programming.
Improve the customer experience
Last year, Four Seasons announced the appointment of Marc Speichert as the company’s first chief commercial officer to drive key commercial initiatives to improve brand value and market share, accelerate revenue growth, and achieve an ambitious vision: to affirm Four Seasons as the brand most customer-centric and digitally driven luxury brand.
To better understand the drivers of customer satisfaction, the company is embarking on a journey to rethink how processes, data and technology intertwine to enable a truly holistic view of customers. In doing so, Four Seasons will be able to deliver much more personalized experiences and set a new industry standard for guest satisfaction and service excellence.
This personalization and guest-centric approach extends to Four Seasons’ digital ecosystem, and investments in technology on these platforms continue to roll out globally, focused on gaining insights more in-depth to improve the customer experience. The company’s evolving digital capabilities, driven by Four Seasons’ award-winning app and chat and FourSeasons.com, will further personalize every touchpoint in the customer journey. With usage growing nearly 300% since 2019, the app’s cutting-edge technology puts guests and residents in control of their Four Seasons experience, engaging with real Four Seasons employees on property who provide a organized service characterized by personal relationships and emotional intelligence. New app and chat features to be rolled out also include the introduction of a mobile key and mobile payments, as well as enhancements to the digital restaurant and bar experience.
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About Four Seasons Hotels and Resorts
Four Seasons Hotels and Resorts opened its first hotel in 1961 and since then has been dedicated to perfecting the travel experience through continuous innovation and the highest standards of hospitality. Currently operating 122 hotels and resorts and 48 residential properties in major city centers and resort destinations in 47 countries, and with more than 50 projects in planning or development, Four Seasons consistently ranks among the top hotels in the world. world and the most prestigious brands in reader surveys, traveler reviews and industry awards. For more information, visit fourseasons.com. For the latest news, visit press.fourseasons.com and follow @FourSeasonsPR on Twitter.
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SOURCE Four Seasons Hotels and Resorts