Four Seasons Hotels Inc. Reports First Quarter 1999 Results

Four Seasons Hotels Inc. (TSE-ME Symbol “FSH”; NYSE Symbol
“FS”) today reported its results for the first quarter ended March 31, 1999. Net earnings
increased 30% to $10.1 million ($0.30 basic and fully diluted earnings per share) for the three
months ended March 31, 1999, as compared to $7.7 million ($0.23 basic and fully diluted
earnings per share) for the first quarter of 1998.
“The strong financial performance realized in the first quarter reflects fee revenue growth from
new and recently opened hotels and from hotels that are currently under construction,”
commented Isadore Sharp, Chairman and Chief Executive Officer. “Over the next three years
Four Seasons expects to undertake the largest expansion of its hotel and resort portfolio in its
history. This expansion of hotels and resorts under management and our brand extension into
luxury vacation ownership resorts is expected to result in continued strong financial performance
in the years ahead.”
——-