TORONTO—Four Seasons Hotels and Resorts announced Aug. 1 that Allen Smith will become president and CEO of the hotel company as of Sept. 23. The announcement follows an extensive global search by the private company’s long-term shareholders, Kingdom Holding Company, Cascade Investment and Triples Holding.
Smith, 56, is currently CEO of Prudential Real Estate Investors. He joined Prudential in 1987, after obtaining his master’s degree from Cornell University’s School of Hotel Administration, as a member of its hotel investors group. Named CEO in 2008, Smith’s role at Prudential expanded to include all commercial property types, and all facets of the real estate business including strategic planning, organizational development, capital partner relations, portfolio management and corporate finance.
In a release, Smith said market demand for the Fours Seasons brand is “enormous” around the world.
“This is a remarkable situation for me to leverage the complete range of skills developed over my career and it is an honour to take one of the world’s most admired companies and take it to even greater heights and more great places,” said Smith.
“We see great market opportunities to further expand the Fours Seasons brand worldwide,” said Michael Larson, chief investment officer of Cascade Investment. “Allen is a proven global growth leader and investor who fits well with our strong company culture and understands the value of preserving the quality of the existing brand.”