1997 Annual Report - Four Seasons Hotels and Resorts

ANNUAL INFORMATION FORM(continued)Four Seasons currently has 16 hotels and resorts under construction or development. The following table sets forth certaininformation relating to these properties:Approximate Scheduled Proposed FreeholdHotel and Location (1) Number of Rooms Opening Equity InterestFour Seasons Hotel Amman, Jordan 195 2000 5%Four Seasons Hotel Leela Palace Bangalore, India 250 1999 —Four Seasons Hotel First Residence Cairo, Egypt 273 1999 —Four Seasons Hotel Nile Plaza Cairo, Egypt 384 2000 9%Four Seasons Hotel Caracas, Venezuela 214 1999 — (2)Four Seasons Hotel Doha, Qatar 335 2000 —Four Seasons Hotel Dublin, Ireland 250 2000 — (3)Four Seasons Resort Leela Beach Goa, India 167 1998 —Four Seasons Resort Kuda Huraa, Maldives 100 1998 — (4)Four Seasons Hotel Las Vegas, Nevada, USA 425 1999 —Four Seasons Hotel, George V Paris, France 270 1999 — (5)Four Seasons Resort Punta Mita, Mexico 100 1999 31% (6)Four Seasons Hotel Riyadh, Saudi Arabia 242 2001 —Four Seasons Hotel San Francisco, California, USA 285 2000 — (7)Four Seasons Resort Scottsdale, Arizona, USA 170 1999 — (8)Four Seasons Resort Sharm el Sheikh, Egypt 241 1999 —(1) Information concerning hotels under construction or under development is based upon agreements and letters of intent and may be subject to change. Thedates of opening and proposed equity interests have been estimated by management. There can be no assurance that the date of opening will be achieved, thatestimated equity interests or advances will not change or that these projects will be completed.(2) Four Seasons has agreed to make a loan of up to US$5.0 million in connection with the completion of this hotel and to issue a US$6.0 million letter of creditto the first mortgage lender to secure at least US$2.0 million annual income available for debt service in the first 10 years of operation.(3) The Corporation has entered into a IR£3 million guarantee to fund total cost of construction overruns after a 10% contingency. The guarantee may only becalled after the opening of the hotel.(4) The Corporation has agreed to make a loan of US$3.0 million.(5) The Corporation has made a loan of French francs 161.6 million to an affiliate of Kingdom in connection with the acquisition of the long-termmanagement agreement for this hotel. The Corporation has commenced supervisory management and oversight of a major refurnishing program for the hotel.(6) Although the Corporation has advanced funds equivalent to a 31% equity interest in the resort, it is expected that the Corporation will reduce this equityinterest to 9%.(7) The Corporation has agreed to make a loan of US$8.6 million.(8) The Corporation is currently making arrangements with its equity partners and its residual equity interest is yet to be determined.20Four Seasons Hotels Inc.