Four Seasons Hotels Limited, trading as Four Seasons Hotels and Resorts, is an international luxury hospitality company headquartered in Toronto, Ontario, Canada. It operates more than 100 hotels worldwide (2013).
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Four Seasons Hotels and Resorts
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Canadian businessman Isadore Sharp founded Four Seasons in 1960. While a young architect working for his father, Sharp designed a motel for a family friend; its success motivated him to try creating his own hotel. He bought a large parcel of land in a run-down area of Toronto and planned a stopover for business travellers; the Four Seasons Motor Hotel opened in 1961.
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Economic downturns in the early and mid-2000s affected the company. When the September 11 attacks caused the collapse of the travel industry, Four Seasons refused to cut room prices in order to preserve the perceived value of the brand, which caused tension with property owners who were losing money. The company recovered, and in 2007 it agreed to a buyout by Microsoft Chairman Bill Gates and Prince Al-Waleed bin Talal of Saudi Arabia for $3.8 billion.
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