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any39。s inception in 1998, ranking 53rd in 2020. Development Canadian businessman Isadore Sharp founded Four Seasons in 1960. While a young architect working for his father, Sharp designed a motel for a family friend that succeeded and inspired him to try creating his own hotel in Toronto. Sharp’s 126room Inn on the Park opened in the spring of 1961. The final cost of the project totaled nearly $ million. In 1972 Sharp approached the Sheraton division of ITT Corporation and proposed a joint Four SeasonsSheraton partnership. The result was the Toronto FourSeasons Sheraton, a 1,450room establishment whose first year of operation was plagued by cost overruns, disagreements with city building inspectors, and a singles event which resulted in a temporary suspension of the hotel39。 it operates them on behalf of real estate owners 2 and developers. The contracts between Four Seasons and property owners typically permit the pany to participate in the design of the property and run it with nearly total control over every aspect of the operation. Four Seasons generally earns 3 percent of the gross ine and approximately 5 percent of profits from the properties it operates, and the property owners are required to additionally contribute money for chainwide sales, marketing and reservations systems. Four Seasons hotels have larger staffs than peting chains。 the Inter and internal hotel puter systems. The current weakness in the overall economy and the travel and tourism industry are evidence of the impact of the terrorist attacks of September 11, 2020. Strategic alliances or mergers/acquisitions are being the primary vehicle for hotel industry international expansion. Investments in hospitalityrelated real estate have grown significantly, reflecting