Four Seasons Hotels Inc. Announces Sale Of Interest In Former Regent Hong Kong

Business Wire, August 17, 2001

Business Editors

TORONTO--(BUSINESS WIRE)--Aug. 17, 2001

Four Seasons Hotels Inc. (NYSE:FS) (TSE:FSH.) announced today that it has sold its 25% interest in Eurasia Hotel Limited to a member of the New World group of companies, which owns the remaining 75% interest in Eurasia.

The principal asset of Eurasia is a 10 year sub-lease from another member of the New World group of The Inter-Continental Hong Kong (formerly The Regent Hong Kong). The purchase price was HK$185 million (approximately C$36 million). The Company expects to recognize a gain of more than C$20 million on this asset disposition in its third quarter financial results.

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 50 properties in 22 countries, primarily under the Four Seasons and Regent brand names. Opened since early 2001 are Four Seasons Hotel Caracas, Venezuela; Four Seasons Hotel Prague, Czech Republic; and Four Seasons Hotel Dublin, Ireland. Additional hotels poised to enter the market in 2001 include properties in San Francisco, California; and Sharm El Sheikh, Egypt. While most hotels bear the names of Four Seasons or Regent, some do not, including The Ritz-Carlton in Chicago and The Pierre in New York. Information on the company can be accessed through the Four Seasons Web site at www.fourseasons.com.