Four Seasons adopts the US dollar as its reporting currency

Four Seasons adopts the US dollar as its reporting currency 


TORONTO, April 25  /PRNewswire-FirstCall/ -- Four Seasons Hotels Inc. (TSX
Symbol "FSH.SV"; NYSE Symbol "FS") announces that it will adopt the US dollar
as its reporting currency effective commencing the first quarter of 2005.

The Company has historically prepared the consolidated financial statements in
Canadian dollars. Effective for the quarter ended March 31, 2005, we have
adopted US dollars as our reporting currency. With the majority of our
management fee revenues in US dollars, reporting in US dollars will reduce the
volatility on reported results relating to the impact of fluctuations in the
rate of exchange between the US and Canadian dollars relating to these revenues
and, as a result, we believe it will provide the financial statement users with
more meaningful information. We have not changed the functional currencies of
the Company or any of its subsidiaries.

Consolidated financial statement schedules in US dollars for the quarters and
full years of 2004 and 2003, including the applicable foreign exchange rates,
are available on our website at
http://www.fourseasons.com/pdfs/press/Financial_Statements_in_US_Dollars.pdf.
The consolidated financial statement schedules in Canadian dollars have been
translated to US dollars using the foreign exchange rates applicable at each
balance sheet date for assets and liabilities, and the weighted average
exchange rates of the corresponding quarters for the consolidated statements of
operations, consolidated statements of cash provided by operations and
consolidated statements of cash flow. Equity transactions have been translated
to US dollars at the historical exchange rates for 2004 and 2003 with opening
equity accounts on January 1, 2003 translated at the exchange rate on that
date. Any resulting exchange gain or loss was charged or credited to "Equity
adjustment from foreign currency translation" included as a separate component
of shareholders' equity.

Dedicated to continuous innovation and the highest standards of hospitality,
Four Seasons invented luxury for the modern traveller. From elegant
surroundings of the finest quality, to caring, highly personalised 24-hour
service, Four Seasons embodies a true home away from home for those who know
and appreciate the best. The deeply instilled Four Seasons culture is
personified in its employees - people who share a single focus and are inspired
to offer great service. Founded in 1960, Four Seasons has followed a targeted
course of expansion, opening hotels in major city centers and desirable resort
destinations around the world. Currently with 66 hotels in 29 countries, and
more than 20 properties under development, Four Seasons will continue to lead
luxury hospitality with innovative enhancements, making business travel easier
and leisure travel more rewarding. For more information on Four Seasons, visit
http://www.fourseasons.com/. 

DATASOURCE: Four Seasons Hotels and Resorts



CONTACT: Barbara Henderson, Vice President, Corporate Finance,

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