Four Seasons Hotels & Resorts new CEO: no pressure to expand unit count
In a recent interview to Hotels Magazine, Allen Smith, the newly appointed CEO of Four Seasons Hotels & Resorts (92 operating hotels worldwide): ”There is no thought that we have to double our unit count in a fixed period. We want to grow in keeping with the quality of the brand and that continues to strengthen its market position”.
On the opinion of some experts that it will be difficult for Four Seasons to become profitable, Smith said: ”We have to be prepared to challenge ourselves, where appropriate to be flexible in ways we can be without compromising what the brand stands for”., adding ”There is more we can do. I think there is a degree to which we can introduce more of an asset-management mentality to some of what we do but that is in the context of being one of the leading luxury hotel companies in the world and we will continue to focus on being that”.
On potential brand extension, Allen Smith did not rule out such possibility for Four Seasons Hotels & Resorts, however, he highlighted that this is not a priority and has not been addressed as such.