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Researching Tourism and Hospitality Operations - Essay Example
Pages 21 (5271 words)
REPORT: The challenges and opportunities of Four Seasons Hotels and Resorts BY YOU YOUR SCHOOL INFO HERE DATE HERE The challenges and opportunities of Four Seasons Hotels and Resorts 1.0 Introduction Founded in 1961 by Isadore Sharp, the Four Seasons Hotels and Resorts had earned a powerful brand reputation as a leader in service excellence in the luxury hospitality sector…
In 2007, Isadore Sharp sought an exit from this long-term investment, selling the multi-national Four Seasons properties to Kingdom Holding, owned by Al-Waleed bin Talal from Saudi Arabia and Cascade Investments, controlled by the software and technology guru Bill Gates. Upon taking this business private, Four Seasons Hotels and Resorts were able to internalise international expansion efforts, redevelop the business model, and restructure financial governance of the business without undo pressures from international investors in the stock market. However, this acquisition of Four Seasons in 2007 came at a time just prior to the global recession occurring between 2008 and 2010, which radically changed the predictability and revenue growth opportunities for this luxury hospitality business. The business’ long-term profitability has been impacted by a series of government-imposed austerity packages in European nations, reforms in the banking sector in Asian and North American countries, and changes to consumer sentiment about luxury travel and tourism and its correlation to their personal finance availability. ...
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