Four Seasons Hotels Inc. (TSE-ME Symbol “FSH”; NYSE Symbol “FS”)
today reported its results for the third quarter ended September 30, 1999. Net earnings increased
21.8% to $20.3 million ($0.60 basic earnings per share) for the three months ended September 30,
1999, as compared to net earnings of $16.7 million ($0.49 basic earnings per share) for the third
quarter of 1998.
For the nine months ended September 30, 1999, net earnings increased 24.2% to $52.6 million
($1.54 basic earnings per share), as compared to net earnings of $42.3 million ($1.25 basic earnings
per share) for the comparable period in 1998.
“The financial results for the quarter reflect strong operational performance in the majority of the
markets in which the Company operates, including a rebound in a number of our Asian markets, “
said Isadore Sharp, Chairman and Chief Executive Officer. “Our worldwide RevPAR 1 growth rate
of 8.4% in the third quarter demonstrates the fundamental strength of the Four Seasons brand in the
luxury segment of the international lodging business.”
1 RevPAR is defined as average room revenue per available room. RevPAR is a commonly used indicator of market
performance for hotels and represents the combination of average daily room rate and the average occupancy rate achieved
during the period. RevPAR does not include food and beverage or other ancillary revenues generated by a hotel.