Four Seasons Hotels to Expand in China, Latin America

Four Seasons Hotels Inc. is looking to expand its chain of luxury hotels in China and Latin America, although the Toronto-based company is not focusing on any specific region, CEO Isadore Sharp said earlier this week.

"There´s no one place that we are targeting," he told reporters after the company´s annual meeting. "Opportunities come our way and, if it fits for Four Seasons, we go to where we are called to. So, Latin America is wide open, North America -there´s still a lot going on here."

Four Seasons has a hotel in Shanghai - in which it recently reduced its interest - a hotel opening in Hong Kong and one being built in Beijing.

Sharp said there may be other areas for growth in China, given the country´s population and rapidly expanding economy.

"People are what make commerce," he said. "So they are going to be a major force going forward, and for us to be able to grow in that part of the world will be a natural part of our future."

Last year, revenue per available room rose 31.9 percent among the company´s Asia-Pacific hotels, while hotels in South America helped boost full-year outcomes in its Americas and Caribbean region to 18.2 percent.