TORONTO / July 30, 2001--Four Seasons Hotels Inc. FS announced today that it has sold its equity interest in Four Seasons Hotel Prague in the Czech Republic, in a transaction that transferred the ownership of the hotel to The Quinlan Partnership.

The purchase price and other terms and conditions of the transaction were not disclosed. In keeping with its strategic focus on hotel management, Four Seasons will continue to manage this 162-room luxury hotel in Prague, which opened on February 1, 2001, under the same long-term management agreement.

This transaction is the last of the sales that the Company previously announced it anticipated to take place in 2001. The Company's equity interest in Four Seasons Resort Punta Mita in Mexico was sold in February 2001. The completed sales generated proceeds of more than $50 million to Four Seasons.

The Quinlan Partnership is based in Dublin, Ireland and also represents the owners of the Four Seasons Hotel Dublin, which opened in the first quarter of 2001 and one of the owners of the Four Seasons Hotel Budapest, which is scheduled to open in late 2002.

With a history spanning four decades and a portfolio that now extends to six continents, Four Seasons Hotels and Resorts is the world's leading operator of luxury hotels, currently managing 50 properties in 22 countries, primarily under the Four Seasons and Regent brand names. Opened since early 2001 are Four Seasons Hotel Caracas, Venezuela; Four Seasons Hotel Prague, Czech Republic; and Four Seasons Hotel Dublin, Ireland. Additional hotels poised to enter the market in 2001 include properties in San Francisco, California; and Sharm El Sheikh, Egypt. While most hotels bear the names of Four Seasons or Regent, some do not, including The Ritz-Carlton in Chicago and The Pierre in New York. Information on the company can be accessed through the Four Seasons Web site at www.fourseasons.com.

Douglas L. Ludwig
416/441-4320
Four Seasons