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Four Seasons Hotels Announces CEO Transition



  Four Seasons Hotels Announces CEO Transition

Business Wire

TORONTO -- February 5, 2013

Four Seasons Hotels and Resorts today announced that Kathleen Taylor will be
leaving her role as Chief Executive Officer.

The privately held Company, with the backing of its long-term shareholders
Kingdom Holding Company, Cascade Investment and Triples Holdings, is focused
on building on Four Seasons leadership position by accelerating execution of
its existing strategy to drive global growth and expansion of its iconic
brand.

Ms. Taylor assumed the role of Chief Executive Officer from Isadore Sharp, the
founder of Four Seasons in 2010. During her almost 25 year tenure at Four
Seasons she was integral to the expansion of the business which quadrupled its
size, increased its global footprint from three countries to operations in 37
countries, and resulted in strategic partnerships with more than 100 hotel
owners and developers across the globe.

Mr. Sharp continues as Chairman and a shareholder and is closely involved in
developing and advancing relationships with partners, employees and customers
around the world.

"I am deeply grateful to Katie for her nearly 25 years of outstanding service
and wish her well in the next phase of her career,” said Mr. Sharp. "Katie has
been a trusted colleague and fundamental to building Four Seasons into the
admired and successful company it is today. She leaves us with a strong
foundation for the future and we remain firmly committed to leadership in
luxury hospitality and accelerating our goals for long-term growth.” Mr. Sharp
added, “Katie embodied the Four Seasons values in all that she has done.” She
has been recently recognized through numerous awards including the first woman
ever to receive the Corporate Hotelier of the World, the Cornell University
Hospitality Innovator, and inductee to Marketing Hall of Fame.

“Our long-term commitment to Four Seasons has not changed,” said His Royal
Highness Prince Alwaleed Bin Talal, Chairman of Kingdom Hotels International.
“We are confident that we can quickly identify a successor to Katie who shares
the Four Seasons vision and values and that the Company’s strong Executive
Leadership Team, which has the full support of the shareholders, will provide
the leadership and continuity necessary to guide us through a seamless
transition. We see more opportunity today than ever before.”

“We have great confidence in the Company's outstanding executive leadership
and worldwide operations teams," said Michael Larson, Chief Investment Officer
of Cascade Investment. "We look forward to working with them and our hotel
ownership partners to build our business as the global leader in luxury
hospitality. Together with Kingdom and Triples, we are committed to achieving
the long term strategic vision that has been established for Four Seasons.”

“Throughout my almost quarter century with Four Seasons the one constant has
been the power of the employees - they have always been my inspiration,” said
Kathleen Taylor. “I am also immensely proud of the members of my Executive
Leadership Team and going forward, it is they, along with the nearly 40,000
employees that will fulfill the vision that we have put in place together,
driving the future success of the company.” Ms Taylor added, “It has been a
pleasure to get to know so many loyal Four Seasons guests, customers and
residential owners around the world.”

Kingdom Holding Company, whose Chairman is His Royal Highness Prince Alwaleed
Bin Talal Bin Abdulaziz Al Saud, Cascade Investment L.L.C., an entity owned by
William H. Gates III, and Triples Holdings Limited, a company owned by Isadore
Sharp, took Four Seasons private in 2007.

Four Seasons has initiated a search for Ms. Taylor’s successor and has
retained Ferguson Partners Ltd., a leading executive search firm, to assist in
the process. In the interim, Four Seasons nine-member Executive Leadership
Team (ELT) will manage the company with oversight from the Company’s Board.

About Four Seasons Hotels and Resorts:

Four Seasons Hotels and Resorts is dedicated to perfecting the travel
experience through continual innovation and the highest standards of
hospitality. From elegant surroundings of the finest quality, to caring,
highly personalised 24-hour service, Four Seasons embodies a true home away
from home for those who know and appreciate the best. The deeply instilled
Four Seasons culture is personified in its employees – people who share a
single focus and are inspired to offer great service. Founded in 1960, Four
Seasons has followed a targeted course of expansion, opening hotels and
residences in major city centres and desirable resort destinations around the
world. With 90 properties in 37 countries, and more than 50 projects under
development, Four Seasons continues to lead the hospitality industry with
innovative enhancements, making business travel easier and leisure travel more
rewarding. For more information on Four Seasons, visit
http://press.fourseasons.com and follow on Twitter @FourSeasonsPR.

Contact:

Robin Weinberg or David Reno
+1 212-687-8080
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