LPWire: Four Seasons purchases site in Celebration

Four Seasons purchases site in Celebration

Four Seasons Hotels and Resorts, one of the world's leading operators of luxury hotels, has purchased approximately 400-acres in Celebration. Plans for the multi-use resort include a 425-room luxury hotel, 18-hole championship golf course, an exclusive enclave of single-family homes and a fractional ownership Four Seasons Residence Club.

"We believe Four Seasons' reputation for quality, character and outstanding service will complement the Celebration community," said Perry Reader, President of The Celebration Company. "This Four Seasons project will contribute significant value to Central Florida, bringing additional commercial and home construction and unique luxury accommodations that will add to the area's real estate tax base and contribute to local resort and sales tax collections."

The site, approximately one mile south of World Drive on Celebration Boulevard, offers an exceptional location that will provide Four Seasons both seclusion and proximity to Walt Disney World Resort(R) and other nearby attractions. Earlier this year, the Osceola County Commission approved changes to the Celebration master plan, enabling the project to move forward. Still in the early planning stages, a date for construction has not yet been determined.

"This is the latest signal that Celebration is developing into an outstanding commercial location and represents a substantial and exciting opportunity for Central Florida," said Matt Kelly, Vice President of Real Estate Development and Operations for The Celebration Company. The long range concept for Celebration includes more than 2 million square feet of office space concentrated in two areas: Celebration Place and Celebration Boulevard.

"The Orlando area is an excellent destination, and we have been looking for the right opportunity and partner there for some time," said Isadore Sharp, chairman and CEO, Four Seasons Hotels and Resorts. "The resort project will be a valuable addition to our portfolio, particularly because we can also offer the Four Seasons lifestyle through the Residence Club and homes that are part of the project."

This is the first property for Four Seasons in Central Florida. The company currently operates only one other resort in Florida, Four Seasons Resort Palm Beach, which is a AAA Five Diamond and Mobil Five Star property.

With a history spanning four decades and a portfolio that now extends around the world, Four Seasons Hotels and Resorts is the world's leading operator of luxury hotels, currently managing 56 properties in 25 countries. In 2002, the company opened its second property in Tokyo, in the heart of Marunouchi district, as well as properties in Shanghai and Sharm el Sheikh, Egypt. Four Seasons Hotels and Resorts continues to expand, with over 20 projects in development stages in choice locations around the world. Four Seasons has claimed first position on many prestigious lists. Recent honours include top ranking in the J.D. Powers Guest Satisfaction Survey and AAA Five Diamond awards (receiving more than other any hotel company for the 21st consecutive year). Information on the company and its 41 years of achievement in the hospitality industry can be accessed through the Four Seasons Web site at www.fourseasons.com.

Celebration is an innovative, new town that successfully combines architecture, education, health and technology in ways that promote a strong sense of community. Celebration Place Office Park is a 109-acre office park with four Class A office buildings and an innovative health facility owned by Florida Hospital - Celebration Health. When complete, Celebration Place is expected to total up to 1.7 million square feet. Fronting Interstate 4, the Celebration Boulevard corporate community features a number of commercial buildings and sites, with a total project size of up to 1.8 million square feet. Founded in 1994, Celebration is home to approximately 7,000 residents, an Osceola County public school, an 18-hole public golf course, parks and recreation areas and a town center with some 20 shops and restaurants. For further information about Celebration, visit the website at www.celebrationfl.com.

--Posted December 19, 2002
Source: Four Seasons