Four Seasons Hotels and Resorts today announced that Allen Smith, currently CEO of Prudential Real Estate Investors, will become president and CEO of the luxury hotel company.

The announcement follows an extensive global search overseen by the private company’s long-term shareholders, Kingdom Holding Company, Cascade Investment and Triples Holdings. Smith, age 56, will take up his new position on September 23.

Prince Alwaleed Bin Talal, chairman of Kingdom Holding Company, said: “The success of Four Seasons as the world’s greatest luxury hospitality company has resulted from the incredibly strong and consistent vision that the company has pursued from its inception.

“We have enjoyed a strong relationship over twenty years as the company has evolved and grown, and we look forward to continuing to work closely with our friends at Cascade and Triples to support Allen as CEO.”

Michael Larson, chief investment officer of Cascade Investment, added: “We see great market opportunities to further expand the Four Seasons brand worldwide. 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. We are excited to work closely with our great partners and Allen to execute the established strategic plan for the company.”

Smith said: “Having led a global real estate investment business, I am convinced there is no greater hotel brand and the market demand for Four Seasons around the world is enormous.”

“This is a remarkable situation for me to leverage the complete range of skills developed over my career and it is an honour to help take one of the world’s most admired companies to even greater heights and more great places. The chance to work with this group of owners, management and employees created what is truly a once in a lifetime opportunity,” he added. – TradeArabia News Service