TORONTO -- Four Seasons Hotels Inc. said Friday it has completed its previously announced acquisition of Hong Kong-based Regent International Hotels Ltd. for $122 million.
Four Seasons said the acquisition includes Regent's management contracts, trade names and trademarks, and a 25 percent leaseholds interest in the Regent Hotel in Hong Kong.
Regent currently manages ten hotels, predominantly in Asia, and has five hotels under construction in Milan, New York, Bali, London and Jakarta.
Four Seasons said the resort in Bali, scheduled to open in December, and the hotels in New York and Milan, which are scheduled to open in early 1993, will be operated under the Four Seasons name. The London and Jakarta hotels will operate under the Regent name.
Four Seasons said Regent also has numerous other projects under development which it will continue to pursue. It also said it intends to operate and expand globally the Four Seasons and Regent hotels.
Four Seasons said that upon completion of the hotels currently under construction, Four Seasons and Regent together will be the world's largeti operator of luxury hotels with 43 hotels in 17 countries. Four Seasons currently owns or operates 23 Four Seasons properties and 10 Regent hotels.
Four Seasons properties are under development in Paris, Singapore, Mexico City, Milan and New York City.
