Four Seasons names Kathleen Taylor President, CEO

Four Seasons Hotels Inc said Kathleen Taylor, a 21-year veteran of the luxury lodging chain, will replace founder Isadore Sharp as chief executive officer. Sharp, 78, will remain chairman and continue to oversee hotel design, the Toronto-based company said in a statement today. The change is effective Aug. 1. Luxury hotels, which were hurt most by a decline in business and leisure travel during the global recession, are starting to show signs of recovery. Taylor, currently president and chief operating officer, said earlier this month that nightly rates at some Four Seasons properties may climb to the peak levels of 2008 by the end of this year.

“Four Seasons is well positioned to take advantage of the recovery in luxury travel,” Taylor said in today’s statement. Taylor, 52, joined Four Seasons in 1989 and has served as president and chief operating officer since 2007. She will retain her title as president. “As an investor in Four Seasons since 1994, I have had the opportunity to work closely with Katie for more than 15 years and know she will steer the company to ongoing success,” said Prince Alwaleed Bin Talal, chairman of Kingdom Hotels International, in the statement. Kingdom Hotels, together with Cascade Investment LLC, a company owned by Bill Gates, and Triples Holdings Ltd., owned by Sharp, took Four Seasons private in 2007.