The days of ‘rate integrity’ seem to be over at Four Seasons Hotels – “Pillow Fights at the Four Seasons “

TORONTO

ISADORE SHARP had a different coda in mind for the twilight of his career.

The 77-year-old founder and C.E.O. of Four Seasons Hotels and Resorts, he was looking forward to some time with his wife, sons and grandchildren. A meticulous planner, he was carefully plotting his exit, and in 2007 he engineered the sale of the company, which manages more than 80 luxury hotels around the world, to two of the world’s richest men, Bill Gates and Prince Walid bin Talal, a nephew of the king of Saudi Arabia.

But instead of victory laps and Champagne farewells, Mr. Sharp is now coping with a vicious, industrywide slump. A huge chunk of business for the upper-crustiest hotels came from financiers, many of whom have either been fired or shamed into the Econo Lodge. And not many tourists want to drop $395 for a room these days.

Please click here to read the complete article.

Filed Under: Industry Trends • News