Four Seasons Hotels Inc. (TSE-ME Symbol “FSH”; NYSE Symbol “FS”)
today reported its results for the second quarter ended June 30, 1999. Net earnings increased 23.7%
to $22.2 million ($0.64 basic earnings per share) for the three months ended June 30, 1999, as
compared to $17.9 million ($0.53 basic earnings per share) for the second quarter of 1998. For the
six months ended June 30, 1999, net earnings increased 25.7% to $32.2 million ($0.94 basic earnings
per share), as compared to $25.6 million ($0.76 basic earnings per share) for the comparable period
in 1998.
“We are achieving our business plan targets for 1999,” said Douglas Ludwig, Executive Vice
President and Chief Financial Officer. “Although we have experienced slower RevPAR (room
revenue per available room calculated as occupancy multiplied by achieved room rate) growth in
certain of our markets in the first half of 1999, compared to 1998, this is in line with our expectations
for the year.”
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