Castle & Cooke Resorts and Four Seasons Hotels and Resorts sign letter of intent to rebrand Lana'i Hotels

Castle & Cooke Resorts and Four Seasons Hotels and Resorts sign letter of intent
to rebrand Lana'i Hotels 


TORONTO, Feb. 18  /PRNewswire-FirstCall/ -- Four Seasons Hotels and Resorts.
(TSX Symbol "FSH"; NYSE Symbol "FS") announced today that it has signed a letter
of agreement with Castle & Cooke Resorts, LLC, to initiate the re-branding of
the Manele Bay Hotel and The Lodge at Koele, both on the Hawaiian island of
Lana'i. When details are finalized, the two properties are expected to join the
Toronto-based company's two award-winning properties in Hawaii: Four Seasons
Resort Maui and Four Seasons Resort Hualalai, on the Big Island, during 2004 for
the Hotel and 2005 for the Lodge.

"We are delighted to have the opportunity to broaden our portfolio of luxury
resorts in Hawai'i," said Isadore Sharp, chairman and CEO, Four Seasons Hotels
and Resorts. "Both the Manele Bay Hotel and The Lodge at Koele have already
earned an enviable reputation. A planned refurbishment, combined with Four
Seasons global brand reach, will complement the properties' exceptional location
and enhance the overall guest experience."

Surrounded by lavish gardens, the 249-room Manele Bay property sits high above
the white sand beach of Hulopo'e Bay, overlooking the nearbyislands of Maui and
Kaho'olawe. Brilliant red lava cliffs and rock formations provide a dramatic
contrast to the blue-green waters of the sea below.

The Hotel's spacious accommodations complement the property's natural setting,
and meld with the island's archaeological treasures. The award- winning Jack
Nicklaus designed Challenge at Manele golf course is set spectacularly adjacent
to the hotel and highlights a wide variety of recreational activities available
on the Island of Lana'i.

The 102-room Lodge at Koele, at an elevation of 1,600 feet, is reminiscent of a
fine country estate. The Lodge combines an upcountry Hawaiian setting with an
extensive collection of Pacific art, as well as series of exotic gardens.
Settled amongst decades-old towering Cook Island pines, the Lodge features
authentic rustic touches such as heavy timbers, beamed ceilings, and natural
stone fireplaces. Golf enthusiasts find The Experience at Koele a golf
experience like no other. Designed by Greg Norman, this championship course is
unique in Hawai'i, offering an incredible combination of upland terrain,
inspired landscape architecture, and range of play challenges.

Commenting on the agreement, David H. Murdock the Owner, Chairman and CEO of
Castle and Cooke said, "I am delighted to enter into an agreement with the
world's most prestigious hotel group, a favorite of mine as it is for many other
discerning world travelers. My vision for Lana'i has always been to offer the
very best quality. I am unwavering in that commitment as this agreement
demonstrates. We welcome the Four Seasons brand to Lana'i."

"Now with four exceptional properties to choose from, including Four Seasons'
two AAA Five Diamond resorts in Maui and the Big Island, luxury travelers the
world over will have even more reason to seek out the serenity, natural beauty
and recreational pastimes available in Hawaii," added Sharp. "With our
world-acclaimed Resort portfolio, and the addition of new properties in Jackson
Hole, Great Exuma and Costa Rica and Whistler and Terre Blanche expected this
year, Four Seasons is perfectly positioned to offer guests the world over with
truly memorable leisure experiences."

Castle & Cooke, Inc. and its affiliated companies have operations in over 24
states. The company's diversified businesses include the development and
ownership of real estate, leasing of transportation equipment, manufacture of
brick and building materials and ownership of public warehouses. The company's
real estate developments include master planned communities such as Mililani
Town on the island of Oahu, Hawaii, Lake Sherwood in Thousand Oaks, California,
Seven Oaks in Bakersfield, California and Keene's Pointe in Orlando, Florida.
The company also owns 98% of the Island of Lana'i in Hawaii. For more
information please visit http://www.castlecooke.com/.

With a history spanning four decades and a portfolio that extends worldwide,
Four Seasons Hotels and Resorts is the world's leading operator of luxury
hotels, currently managing 61 properties in 29 countries. Four Seasons Resort
Costa Rica opened on January 17, 2004 and the company continues to grow, with
more than 20 projects under construction or development in choice locations
around the world. In the first half of 2004, FourSeasons expects to open new
properties in Budapest, Provence, Whistler, B.C. and Hampshire, England. In
addition to being named to Fortune magazine's Top 100 Employers to Work For Four
Seasons continues to have the most AAA Five Diamond properties and Mobil Five
Star awards in the industry. The company is also consistently highly ranked in
readers' surveys in publications such as Conde Nast Traveler, Travel + Leisure,
Andrew Harper's Hideaway Report and the Zagat Survey. Information on the company
and its 43 years in the hospitality industry can be assessed through the Four
Seasons website at http://www.fourseasons.com/. 

DATASOURCE: Four Seasons Hotels and Resorts



CONTACT: Elizabeth Pizzinato, Director, Corporate Public Relations, Four

Seasons Hotels and Resorts, [phone],

; Gerrit Cormany, President, Castle and

Cooke Resorts, LLC, [phone], 

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