Four Seasons to Return to Seattle Market: Local Investors to Develop Luxury Four Seasons Hotel and Condos.

SEATTLE -- A group of local investors today announced plans to develop the new Four Seasons Hotel Seattle, a luxury 21-story hotel and condo tower in the heart of downtown. The development marks the return of Four Seasons, the world's most honored luxury hotel company, to the Seattle market.

Seattle Hotel Group LLC, a new private company, will develop the hotel-condo complex. Seattle Hotel Group investors include John Oppenheimer, Columbia Hospitality CEO and president; former Seattle Mayor Paul Schell; Tom Alberg, Madrona Venture Group managing director; and leading businessman and entrepreneur Bruce McCaw.

"This project represents Seattle coming together to return Four Seasons to the city," said Oppenheimer, managing partner of Seattle Hotel Group. "We are thrilled to bring the exceptional service for which Four Seasons is known back to Seattle. We want Four Seasons Hotel Seattle to be the most sought-after address for guests and residents in the city."

Isadore Sharp, chairman and CEO, Four Seasons Hotels and Resorts, said, "We are delighted to return to the Seattle market so quickly. For more than 20 years, Four Seasons had a strong presence in Seattle, and we look forward to being able to offer a true Four Seasons experience in the city once again, both for guests at the hotel and for residents living in the development's condominiums."

Located at First and Union downtown, the prestigious 310,000-square-foot mixed-use development will feature 150 guestrooms and 50 condominium suites. Each guestroom will have its own fireplace, a first in the city. With excellent views of Elliott Bay and the Olympic Mountains, the hotel will be near the world-famous Pike Place Market, the financial district and downtown shopping.

Seattle Mayor Greg Nickels said the development is good news for Seattle's economy and for making downtown a great neighborhood.

"Our goal is to make Seattle's Center City a livable, walkable 24/7 neighborhood," Nickels said. "That involves encouraging economic growth, transportation, new housing, lively design and walkable streets in Seattle's downtown core and surrounding neighborhoods. I'm pleased to see this Four Seasons project move us forward on that goal."

Four Seasons will provide a wide range of services to the development's luxury condominiums. The 110,000 square feet of condominium space promises to become the most favored address in the city under the Four Seasons brand. The condominiums will offer high-quality amenities combined with a level of service that is currently not available in the Seattle market.

Bob Rennie of Rennie Marketing Systems, which will market the condos, says the Four Seasons Hotel Seattle condominiums will be among the finest available on the West Coast. "There's already interest in the condos, and until today, we hadn't officially announced the project," Rennie said. "The bar has just been raised for luxury condo living in Seattle."

Four Seasons Hotel Seattle will also become a leading social catering venue, with extensive meeting and function space, and a more than 5,000-square-foot ballroom with unique water views. The hotel will also feature an exclusive two-level urban spa and fitness center, a lap pool, a restaurant and lounge.

Seattle Hotel Group has reached an agreement with Washington Mutual on the property for the hotel that paves the way for the development. The hotel will be located across the street from WaMu Center, which is currently under construction, and the expanded Seattle Art Museum.

Kerry Killinger, Washington Mutual chairman, president and CEO, said, "This project is an excellent example of the local community coming together to strengthen the downtown area. We're delighted to welcome Four Seasons to the neighborhood."

Mimi Gates, director of the Seattle Art Museum, said, "The Four Seasons will be a tremendous addition to our downtown neighborhood, attracting locals and tourists alike. We are thrilled that it will be located across the street from the Seattle Art Museum and our new expansion."

Four Seasons took over the management agreement of its original Seattle hotel, The Olympic Hotel, in 1982. It was the ninth hotel for Four Seasons in the United States. Last year, the Olympic was sold to another hotel group. Since then, Oppenheimer, Schell and Alberg have led a group of local investors determined to bring Four Seasons back to Seattle.

Alberg said, "This Four Seasons is uniquely Seattle -- from the prime location next to the Pike Place Market and Seattle Art Museum to the incredible water views and fireplaces in every room. We're bringing together the best our city has to offer for residents and Four Seasons guests."

Tony Puma, who was the project manager for Safeco Field, Key Arena, Friday Harbor House and the Inn at Langley, will serve as Seattle Hotel Group's project manager for the Four Seasons development. Seattle-based architecture firm NBBJ is the project's architect. Seattle-based Lease Crutcher Lewis is the contractor. NBBJ will collaborate with San Francisco-based Brayton + Hughes to design the hotel interiors. Susan Marinello Interiors of Seattle will design the residential interiors. The Seattle law firms of Cairncross & Hempelmann and Perkins Coie are providing land use and legal support for the project.

Four Seasons Hotel Seattle is slated to open in 2007.

Four Seasons Background:

Toronto-based Four Seasons Hotels and Resorts is the world's most honored hotel company. Dedicated to continuous innovation and the highest standards of hospitality, Four Seasons invented luxury for the modern traveler. From elegant surroundings of the finest quality, to caring, highly personalized 24-hour service, Four Seasons embodies a true "home away from home" for those who know and appreciate the best. The deeply instilled Four Seasons culture is personified in its employees -- people who share a single focus and are dedicated, highly skilled and inspired to offer great service. Founded in 1960, Four Seasons has followed a targeted course of expansion, opening hotels in major city centers and desirable resort destinations around the world. Currently with 63 hotels in 29 countries, and more than 20 properties under development, Four Seasons will continue to lead luxury hospitality with innovative enhancements, making business travel easier and leisure travel more rewarding. For more information on Four Seasons, visit www.fourseasons.com.