Allen Smith, currently CEO of Prudential Real Estate Investors, will become the new president and CEO of Four Seasons Hotels and Resorts, the company announced on Thursday.
Not high profile in the hotel industry, Smith, age 56, will take up his new position on September 23, replacing former CEO Kathleen Taylor who was let go by Four Seasons in February.
Smith has served as CEO of Prudential Real Estate Investors, one of the world’s largest real estate investment managers, since 2008. Smith joined Prudential in 1987 as a member of its hotel investment group after earning his master’s degree from Cornell University’s School of Hotel Administration.
“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,: Smith said. “This is a remarkable situation for me to leverage the complete range of skills developed over my career and it is an honor 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.”
The privately held, Toronto-based Four Seasons currently has 91 properties in 38 countries.
“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 20 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,” said Prince Alwaleed Bin Talal, chairman of Kingdom Holding Co., Riyadh, which holds a big ownership stake in Four Seasons.