Four Seasons Hotels Inc. (TSE Symbol “FSH”; NYSE
Symbol “FS”) today reported its fourth quarter 2000 and year-end results for the year ended
December 31, 2000.
Net earnings for the quarter ended December 31, 2000 increased 13.6 % to $38.5 million ($1.11
basic earnings per share), as compared to $33.9 million ($0.98 basic earnings per share) for the
quarter ended December 31, 1999. For the year ended December 31, 2000, net earnings increased
19.2% to $103.1 million ($2.98 basic earnings per share), as compared to $86.5 million ($2.52 basic
earnings per share) for the year ended December 31, 1999.
“We are extremely pleased with the financial results for the quarter and the 2000 fiscal year,” said
Isadore Sharp, Chairman and Chief Executive Officer. “Despite the significant increase in our tax
costs and negative effects of the Vancouver strike, our overall growth program allowed us to realize
record earnings for 2000. We expect 2001 will be another exciting year for the Company. This year
we have already opened three new Four Seasons hotels in Caracas, Prague and Dublin. We look
forward to the opening of several other new projects over the next 12 months, including a new Four
Seasons hotel in San Francisco and a Four Seasons resort in Sharm El Sheikh, Egypt.”
Consolidated revenues increased 21.4% to $104.1 million for the quarter ended December 31, 2000,
as compared to $85.8 million for the quarter ended December 31, 1999. Consolidated revenues
increased 25.2 % to $347.5 million for the year ended December 31, 2000, as compared to $277.5
million in 1999.
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