As Filed with the Securities and Exchange Commission on July 1, 2004
===============================================================================

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                               ------------------

                                    Form S-8
             Registration Statement Under The Securities Act of 1933

                                   ---------

                            FOUR SEASONS HOTELS INC.
             (Exact name of Registrant as Specified in its Charter)

 Province of Ontario, Canada                           99-0087570
(State or Other Jurisdiction of                      (I.R.S. Employer
 Incorporation or Organization)                       Identification No.)

                               1165 Leslie Street
                                Toronto, Ontario
                                 Canada M3C 2K8
                         (Address of Principal Executive
                              Offices and Zip Code)

           Restated Director, Executive and Employee Stock Option Plan
                              (Full Title of Plan)

                                   ----------

                         Four Seasons Hotels (U.S.) Inc.
                        c/o The Corporation Trust Company
                            Corporation Trust Center
                               1209 Orange Street
                           Wilmington, Delaware 19801
                     (Name and Address of Agent for Service)
                                 (302) 658-7581
          (Telephone Number, Including Area Code, of Agent for Service)

                                   ----------

                                   Copies to:

           Jonathan Lampe                            David A. Katz, Esq.
            Goodmans LLP                           Joshua R. Cammaker, Esq.
          250 Yonge Street                       Wachtell, Lipton, Rosen & Katz
           Toronto, Ontario                          51 West 52nd Street
            Canada M5B 2M6                         New York, New York 10019

                         CALCULATION OF REGISTRATION FEE

<TABLE>
<S>                                  <C>                 <C>                   <C>                 <C>

---------------------------------- -------------------- -------------------- -------------------- --------------------
                                                             Proposed             Proposed
                                                              Maximum              Maximum              Amount
     Title of Each Class of             Amount to            Offering             Aggregate               of
        Securities to Be                   be                  Price              Offering           Registration
           Registered                  Registered          Per Share(1)           Price(1)                Fee
---------------------------------- -------------------- -------------------- -------------------- --------------------
---------------------------------- -------------------- -------------------- -------------------- --------------------
Limited Voting Shares                  500,000(2)             $59.24            $29,620,000          $3,752.85
---------------------------------- -------------------- -------------------- -------------------- --------------------

</TABLE>

---------------------
(1)  Estimated solely for the purpose of computing the registration fee upon the
     basis of fluctuating market prices pursuant to Rules 457(c) and 457(h)
     under the Securities Act of 1933, as amended. The Proposed Maximum Offering
     Price was determined by averaging the high and low prices of the Limited
     Voting Shares of Four Seasons Hotels Inc., as reported on the New York
     Stock Exchange on June 28, 2004.

(2)  Consists of shares reserved for issuance pursuant to the Four Seasons
     Hotels Inc. Restated Director, Executive and Employee Stock Option Plan.
     This registration statement also relates to such indeterminate number of
     additional shares of

===============================================================================

<PAGE>


     Limited  Voting Shares of Four Seasons Hotels Inc., as may be issuable as a
     result of stock  splits,  stock  dividends  or  similar  transactions.

(3)  Reflects  the  product  of (a)  0.0001267  multiplied  by (b) the  Proposed
     Maximum Aggregate Offering Price.



<PAGE>


                           INCORPORATION BY REFERENCE

     This Registration Statement ("Registration Statement") on Form S-8 is filed
by Four Seasons  Hotels Inc.  (the  "Registrant"),  an Ontario  corporation,  in
connection  with the  registration  of  500,000  Limited  Voting  Shares  of the
Registrant ("Shares"),  which are in addition to the 3,888,603 Shares which were
registered  on the  Registrant's  Form S-8 filed on April 2, 1998  (File  Number
333-08576),  the 3,550,000 Shares which were registered on the Registrant's Form
S-8 filed on March 12, 2001 (File Number  333-13290)  and the  1,200,000  Shares
which were  registered  on the  Registrant's  Form S-8 filed on November 9, 2001
(File Number 333-14080) (collectively, the "Prior Registration Statements"). The
Shares  registered by this  Registration  Statement include Shares available for
issuance upon exercise of stock options or as restricted  stock awards,  granted
or to be  granted  under  the  Registrant's  Restated  Director,  Executive  and
Employee Stock Option Plan.  Pursuant to General  Instruction E of Form S-8, the
contents of the Prior  Registration  Statements  are  incorporated  by reference
herein.

                                     PART II

     ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL.

     The legality of the Limited  Voting Shares  offered hereby and to be issued
by the Company has been passed on by Goodmans LLP, counsel to the Registrant. As
of the  date of this  Registration  Statement,  certain  members  of the firm of
Goodmans  LLP own in the  aggregate  less than one  percent  of the  issued  and
outstanding Limited Voting Shares on a fully diluted basis.

     ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS.

     Under the Business Corporations Act (Ontario), the Registrant may indemnify
a present  or former  director  or  officer or a person who acts or acted at the
Registrant's  request as a director or officer of another  corporation  of which
the  Registrant  is or was a shareholder  or creditor,  and his or her heirs and
legal  representatives,  against all costs,  charges and expenses,  including an
amount  paid to settle an action or satisfy a judgment,  reasonably  incurred by
him or her in  respect  of any  civil,  criminal  or  administrative  action  or
proceeding  to which he or she is made a party by  reason of his or her being or
having been a director or officer of the Registrant or such other corporation if
the director or officer acted honestly and in good faith with a view to the best
interests  of the  Registrant  and, in the case of a criminal or  administrative
action or proceeding  that is enforced by a monetary  penalty,  such director or
officer had reasonable grounds for believing that his or her conduct was lawful.

     Such  indemnification  may be made in  connection  with an  action by or on
behalf of the Registrant or such other  corporation to procure a judgment in its
favor  only  with  court  approval.   A  director  or  officer  is  entitled  to
indemnification  from  the  Registrant  as a  matter  of  right if he or she was
substantially  successful  on the merits in his or her defense and fulfilled the
conditions set forth above.

     In accordance  with provisions of the Business  Corporations  Act (Ontario)
described above, the by-laws of the Registrant provide that the Registrant shall
indemnify a director or officer, a former director or officer,  and a person who
acts or  acted  at the  Registrant's  request  as a


<PAGE>


director  or  officer  of a  corporation  of which  the  Registrant  is or was a
shareholder or creditor, and his or her heirs and legal representatives, against
all costs, charges and expenses, including an amount paid to settle an action or
satisfy a judgment,  reasonably  incurred by him or her in respect of any civil,
criminal or  administrative  action or  proceeding  to which he or she is made a
party by reason of being or having been a director or officer of the  Registrant
or such other corporation,  if he or she acted honestly and in good faith with a
view to the best interests of the  Registrant  and, in the case of a criminal or
administrative  action or proceeding that is enforced by monetary penalty, he or
she had reasonable grounds for believing that his or her conduct was lawful.

     The Registrant  maintains directors' and officers' liability insurance that
provides  coverage  for  losses  as a result  of claims  against  directors  and
officers of the  Registrant in their  capacities as directors or officers of the
Registrant.

     Insofar as indemnification for liabilities arising under the Securities Act
of 1933 may be  permitted  to  directors,  officers or persons  controlling  the
Registrant  pursuant  to the  foregoing  provisions,  the  Registrant  has  been
informed that in the opinion of the U.S. Securities and Exchange Commission such
indemnification  is against  public policy as expressed in the Securities Act of
1933 and is therefore unenforceable.

     ITEM 8. EXHIBITS.

     The following exhibits are filed as part of this Registration Statement:

3.1  Restated  Articles  of  Incorporation,   as  amended,   of  the  Registrant
     (incorporated  by  reference  to Exhibit 4.1 to the  Registrant's  Form S-8
     filed on April 2, 1998 (File Number 333-08576)).

3.2  By-Laws of the Registrant  (incorporated by reference to Exhibit 4.2 to the
     Registrant's Form S-8 filed on April 2, 1998 (File Number 333-08576)).

4.1  Restated  Director,  Executive  and  Employee  Stock  Option  Plan  of  the
     Registrant,  as amended  through  February  26,  2004 and  Amendment  No. 1
     thereto, dated as of May 12, 2004.

5.1  Opinion of Goodmans LLP.

23.1 Consent of KPMG LLP.

23.2 Consent of Goodmans LLP (included in Exhibit 5.1 hereto).

24.1 Power of Attorney  (set forth on the  signature  page of this  Registration
     Statement).


<PAGE>


                                   SIGNATURES

     Pursuant to the  requirements of the Securities Act of 1933, the Registrant
certifies  that it has  reasonable  grounds to believe  that it meets all of the
requirements  for  filing  on Form S-8 and has  duly  caused  this  Registration
Statement  to be  signed  on its  behalf  by  the  undersigned,  thereunto  duly
authorized,  in the City of Toronto,  Province of Ontario, Country of Canada, on
the 1st day of July, 2004.

                                        FOUR SEASONS HOTELS INC.


                                        By:  /s/ Randolph Weisz
                                            -----------------------------------
                                            Name:  Randolph Weisz
                                            Title: Executive Vice President,
                                                   General Counsel and Secretary



                                POWER OF ATTORNEY

     Each person whose signature  appears below hereby appoints Kathleen Taylor,
Douglas L. Ludwig and Randolph Weisz,  and each of them severally,  acting alone
and  without  the  other,  his or her  true  and  lawful  attorney-in-fact  with
authority  to  execute  in the name of each  such  person,  and to file with the
Securities and Exchange Commission, together with any exhibits thereto and other
documents  therewith,  any  and all  amendments  (including  without  limitation
post-effective  amendments)  and  supplements  to  this  Registration  Statement
necessary or advisable to enable the  Registrant  to comply with the  Securities
Act of 1933, as amended,  and any rules,  regulations  and  requirements  of the
Securities and Exchange Commission in respect thereof, which amendments may make
such changes in this  Registration  Statement as the aforesaid  attorney-in-fact
deems appropriate.

     Pursuant  to  the   requirements  of  the  Securities  Act  of  1933,  this
Registration  Statement  has been signed below by the  following  persons in the
capacities and on the dates indicated.


<TABLE>
<S>                              <C>                                                    <C>

   Signature                                    Title                                     Date
   ---------                                    -----                                     ----

/s/  Isadore Sharp              Chairman, Chief Executive Officer (Principal           July 1, 2004
-----------------------------   Executive Officer) and Director
Isadore Sharp


/s/  Douglas L. Ludwig          Executive Vice President, Chief Financial Officer      July 1, 2004
-----------------------------   and Treasurer  (Principal Financial and Accounting
Douglas L. Ludwig               Officer)


<PAGE>


/s/  Brent Belzberg             Director                                               July 1, 2004
-----------------------------
Brent Belzberg


/s/  H. Roger Garland           Director                                               July 1, 2004
-----------------------------
H. Roger Garland


/s/  Nan-b de Gaspe Beaubien    Director                                               July 1, 2004
-----------------------------
Nan-b de Gaspe Beaubien


/s/  Charles S. Henry           Director                                               July 1, 2004
-----------------------------
Charles S. Henry


                                Director
-----------------------------
Heather Munroe-Blum


/s/  Ronald W. Osborne          Director                                               July 1, 2004
-----------------------------
Ronald W. Osborne


/s/  J. Robert S. Prichard       Director                                              July 1, 2004
-----------------------------
J. Robert S. Prichard


/s/  Lionel H. Schipper          Director                                              July 1, 2004
-----------------------------
Lionel H. Schipper


/s/  Anthony Sharp              Director                                               July 1, 2004
-----------------------------
Anthony Sharp


                                Director
-----------------------------
Benjamin Swirsky


/s/  Shuichiro Tamaki           Director                                               July 1, 2004
-----------------------------
Shuichiro Tamaki


-----------------------------   Director
Simon M. Turner


</TABLE>


<PAGE>


FOUR SEASONS HOTELS (U.S.)       Authorized Representative in the United States
INC.

By:  /s/  Douglas L. Ludwig                                   July 1, 2004
     -------------------------
     Name:  Douglas L. Ludwig
     Title: Treasurer




<PAGE>


                                  EXHIBIT INDEX

------ -------------------------------------------------------------------------
3.1    Restated Articles of Incorporation, as amended, of the
       Registrant (incorporated by reference to Exhibit 4.1 to the
       Registrant's Form S-8 filed on April 2, 1998 (File Number
       333-08576)).
------ -------------------------------------------------------------------------
3.2    By-Laws of the Registrant (incorporated by reference to Exhibit 4.2 to
       the Registrant's Form S-8
       filed on April 2, 1998 (File Number 333-08576)).
------ -------------------------------------------------------------------------
4.1    Restated Director, Executive and Employee Stock Option Plan of the
       Registrant, as amended through February 26, 2004 and Amendment No. 1
       thereto, dated as of May 12, 2004.
------ -------------------------------------------------------------------------
5.1    Opinion of Goodmans LLP.
------ -------------------------------------------------------------------------
23.1   Consent of KPMG LLP.
------ -------------------------------------------------------------------------
23.2   Consent of Goodmans LLP (included in Exhibit 5.1 hereto).
------ -------------------------------------------------------------------------
24.1   Power of Attorney (set forth on the signature page of this Registration
       Statement).
------ -------------------------------------------------------------------------
[{"type": "S-8", "sequence": "1", "filename": "june28forms8.txt", "description": "FORM S-8 , JUNE 29, 2004", "secsgml_size_bytes": 16657}]
{"company-data": {"conformed-name": "FOUR SEASONS HOTELS INC", "cik": "0001030555", "assigned-sic": "7011", "irs-number": "980087570", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-117055", "film-number": "04893534"}, "business-address": {"street1": "1165 LESLIE ST", "street2": "TORONTO", "city": "ONTARIO CANADA", "state": "A6", "zip": "M3C 2K8", "phone": "4164491750"}}
As Filed with the Securities and Exchange Commission on July 1, 2004
===============================================================================

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                               ------------------

                                    Form S-8
             Registration Statement Under The Securities Act of 1933

                                   ---------

                            FOUR SEASONS HOTELS INC.
             (Exact name of Registrant as Specified in its Charter)

 Province of Ontario, Canada                           99-0087570
(State or Other Jurisdiction of                      (I.R.S. Employer
 Incorporation or Organization)                       Identification No.)

                               1165 Leslie Street
                                Toronto, Ontario
                                 Canada M3C 2K8
                         (Address of Principal Executive
                              Offices and Zip Code)

           Restated Director, Executive and Employee Stock Option Plan
                              (Full Title of Plan)

                                   ----------

                         Four Seasons Hotels (U.S.) Inc.
                        c/o The Corporation Trust Company
                            Corporation Trust Center
                               1209 Orange Street
                           Wilmington, Delaware 19801
                     (Name and Address of Agent for Service)
                                 (302) 658-7581
          (Telephone Number, Including Area Code, of Agent for Service)

                                   ----------

                                   Copies to:

           Jonathan Lampe                            David A. Katz, Esq.
            Goodmans LLP                           Joshua R. Cammaker, Esq.
          250 Yonge Street                       Wachtell, Lipton, Rosen & Katz
           Toronto, Ontario                          51 West 52nd Street
            Canada M5B 2M6                         New York, New York 10019

                         CALCULATION OF REGISTRATION FEE
---------------------------------- -------------------- -------------------- -------------------- --------------------
                                                             Proposed             Proposed
                                                              Maximum              Maximum              Amount
     Title of Each Class of             Amount to            Offering             Aggregate               of
        Securities to Be                   be                  Price              Offering           Registration
           Registered                  Registered          Per Share(1)           Price(1)                Fee
---------------------------------- -------------------- -------------------- -------------------- --------------------
---------------------------------- -------------------- -------------------- -------------------- --------------------
Limited Voting Shares                  500,000(2)             $59.24            $29,620,000          $3,752.85
---------------------------------- -------------------- -------------------- -------------------- --------------------
---------------------
(1)  Estimated solely for the purpose of computing the registration fee upon the
     basis of fluctuating market prices pursuant to Rules 457(c) and 457(h)
     under the Securities Act of 1933, as amended. The Proposed Maximum Offering
     Price was determined by averaging the high and low prices of the Limited
     Voting Shares of Four Seasons Hotels Inc., as reported on the New York
     Stock Exchange on June 28, 2004.

(2)  Consists of shares reserved for issuance pursuant to the Four Seasons
     Hotels Inc. Restated Director, Executive and Employee Stock Option Plan.
     This registration statement also relates to such indeterminate number of
     additional shares of

===============================================================================
Limited  Voting Shares of Four Seasons Hotels Inc., as may be issuable as a
     result of stock  splits,  stock  dividends  or  similar  transactions.

(3)  Reflects  the  product  of (a)  0.0001267  multiplied  by (b) the  Proposed
     Maximum Aggregate Offering Price.
INCORPORATION BY REFERENCE

     This Registration Statement ("Registration Statement") on Form S-8 is filed
by Four Seasons  Hotels Inc.  (the  "Registrant"),  an Ontario  corporation,  in
connection  with the  registration  of  500,000  Limited  Voting  Shares  of the
Registrant ("Shares"),  which are in addition to the 3,888,603 Shares which were
registered  on the  Registrant's  Form S-8 filed on April 2, 1998  (File  Number
333-08576),  the 3,550,000 Shares which were registered on the Registrant's Form
S-8 filed on March 12, 2001 (File Number  333-13290)  and the  1,200,000  Shares
which were  registered  on the  Registrant's  Form S-8 filed on November 9, 2001
(File Number 333-14080) (collectively, the "Prior Registration Statements"). The
Shares  registered by this  Registration  Statement include Shares available for
issuance upon exercise of stock options or as restricted  stock awards,  granted
or to be  granted  under  the  Registrant's  Restated  Director,  Executive  and
Employee Stock Option Plan.  Pursuant to General  Instruction E of Form S-8, the
contents of the Prior  Registration  Statements  are  incorporated  by reference
herein.

                                     PART II

     ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL.

     The legality of the Limited  Voting Shares  offered hereby and to be issued
by the Company has been passed on by Goodmans LLP, counsel to the Registrant. As
of the  date of this  Registration  Statement,  certain  members  of the firm of
Goodmans  LLP own in the  aggregate  less than one  percent  of the  issued  and
outstanding Limited Voting Shares on a fully diluted basis.

     ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS.

     Under the Business Corporations Act (Ontario), the Registrant may indemnify
a present  or former  director  or  officer or a person who acts or acted at the
Registrant's  request as a director or officer of another  corporation  of which
the  Registrant  is or was a shareholder  or creditor,  and his or her heirs and
legal  representatives,  against all costs,  charges and expenses,  including an
amount  paid to settle an action or satisfy a judgment,  reasonably  incurred by
him or her in  respect  of any  civil,  criminal  or  administrative  action  or
proceeding  to which he or she is made a party by  reason of his or her being or
having been a director or officer of the Registrant or such other corporation if
the director or officer acted honestly and in good faith with a view to the best
interests  of the  Registrant  and, in the case of a criminal or  administrative
action or proceeding  that is enforced by a monetary  penalty,  such director or
officer had reasonable grounds for believing that his or her conduct was lawful.

     Such  indemnification  may be made in  connection  with an  action by or on
behalf of the Registrant or such other  corporation to procure a judgment in its
favor  only  with  court  approval.   A  director  or  officer  is  entitled  to
indemnification  from  the  Registrant  as a  matter  of  right if he or she was
substantially  successful  on the merits in his or her defense and fulfilled the
conditions set forth above.

     In accordance  with provisions of the Business  Corporations  Act (Ontario)
described above, the by-laws of the Registrant provide that the Registrant shall
indemnify a director or officer, a former director or officer,  and a person who
acts or  acted  at the  Registrant's  request  as a
director  or  officer  of a  corporation  of which  the  Registrant  is or was a
shareholder or creditor, and his or her heirs and legal representatives, against
all costs, charges and expenses, including an amount paid to settle an action or
satisfy a judgment,  reasonably  incurred by him or her in respect of any civil,
criminal or  administrative  action or  proceeding  to which he or she is made a
party by reason of being or having been a director or officer of the  Registrant
or such other corporation,  if he or she acted honestly and in good faith with a
view to the best interests of the  Registrant  and, in the case of a criminal or
administrative  action or proceeding that is enforced by monetary penalty, he or
she had reasonable grounds for believing that his or her conduct was lawful.

     The Registrant  maintains directors' and officers' liability insurance that
provides  coverage  for  losses  as a result  of claims  against  directors  and
officers of the  Registrant in their  capacities as directors or officers of the
Registrant.

     Insofar as indemnification for liabilities arising under the Securities Act
of 1933 may be  permitted  to  directors,  officers or persons  controlling  the
Registrant  pursuant  to the  foregoing  provisions,  the  Registrant  has  been
informed that in the opinion of the U.S. Securities and Exchange Commission such
indemnification  is against  public policy as expressed in the Securities Act of
1933 and is therefore unenforceable.

     ITEM 8. EXHIBITS.

     The following exhibits are filed as part of this Registration Statement:

3.1  Restated  Articles  of  Incorporation,   as  amended,   of  the  Registrant
     (incorporated  by  reference  to Exhibit 4.1 to the  Registrant's  Form S-8
     filed on April 2, 1998 (File Number 333-08576)).

3.2  By-Laws of the Registrant  (incorporated by reference to Exhibit 4.2 to the
     Registrant's Form S-8 filed on April 2, 1998 (File Number 333-08576)).

4.1  Restated  Director,  Executive  and  Employee  Stock  Option  Plan  of  the
     Registrant,  as amended  through  February  26,  2004 and  Amendment  No. 1
     thereto, dated as of May 12, 2004.

5.1  Opinion of Goodmans LLP.

23.1 Consent of KPMG LLP.

23.2 Consent of Goodmans LLP (included in Exhibit 5.1 hereto).

24.1 Power of Attorney  (set forth on the  signature  page of this  Registration
     Statement).
SIGNATURES

     Pursuant to the  requirements of the Securities Act of 1933, the Registrant
certifies  that it has  reasonable  grounds to believe  that it meets all of the
requirements  for  filing  on Form S-8 and has  duly  caused  this  Registration
Statement  to be  signed  on its  behalf  by  the  undersigned,  thereunto  duly
authorized,  in the City of Toronto,  Province of Ontario, Country of Canada, on
the 1st day of July, 2004.

                                        FOUR SEASONS HOTELS INC.

                                        By:  /s/ Randolph Weisz
                                            -----------------------------------
                                            Name:  Randolph Weisz
                                            Title: Executive Vice President,
                                                   General Counsel and Secretary

                                POWER OF ATTORNEY

     Each person whose signature  appears below hereby appoints Kathleen Taylor,
Douglas L. Ludwig and Randolph Weisz,  and each of them severally,  acting alone
and  without  the  other,  his or her  true  and  lawful  attorney-in-fact  with
authority  to  execute  in the name of each  such  person,  and to file with the
Securities and Exchange Commission, together with any exhibits thereto and other
documents  therewith,  any  and all  amendments  (including  without  limitation
post-effective  amendments)  and  supplements  to  this  Registration  Statement
necessary or advisable to enable the  Registrant  to comply with the  Securities
Act of 1933, as amended,  and any rules,  regulations  and  requirements  of the
Securities and Exchange Commission in respect thereof, which amendments may make
such changes in this  Registration  Statement as the aforesaid  attorney-in-fact
deems appropriate.

     Pursuant  to  the   requirements  of  the  Securities  Act  of  1933,  this
Registration  Statement  has been signed below by the  following  persons in the
capacities and on the dates indicated.
Signature                                    Title                                     Date
   ---------                                    -----                                     ----

/s/  Isadore Sharp              Chairman, Chief Executive Officer (Principal           July 1, 2004
-----------------------------   Executive Officer) and Director
Isadore Sharp

/s/  Douglas L. Ludwig          Executive Vice President, Chief Financial Officer      July 1, 2004
-----------------------------   and Treasurer  (Principal Financial and Accounting
Douglas L. Ludwig               Officer)
/s/  Brent Belzberg             Director                                               July 1, 2004
-----------------------------
Brent Belzberg

/s/  H. Roger Garland           Director                                               July 1, 2004
-----------------------------
H. Roger Garland

/s/  Nan-b de Gaspe Beaubien    Director                                               July 1, 2004
-----------------------------
Nan-b de Gaspe Beaubien

/s/  Charles S. Henry           Director                                               July 1, 2004
-----------------------------
Charles S. Henry

                                Director
-----------------------------
Heather Munroe-Blum

/s/  Ronald W. Osborne          Director                                               July 1, 2004
-----------------------------
Ronald W. Osborne

/s/  J. Robert S. Prichard       Director                                              July 1, 2004
-----------------------------
J. Robert S. Prichard

/s/  Lionel H. Schipper          Director                                              July 1, 2004
-----------------------------
Lionel H. Schipper

/s/  Anthony Sharp              Director                                               July 1, 2004
-----------------------------
Anthony Sharp

                                Director
-----------------------------
Benjamin Swirsky

/s/  Shuichiro Tamaki           Director                                               July 1, 2004
-----------------------------
Shuichiro Tamaki

-----------------------------   Director
Simon M. Turner
FOUR SEASONS HOTELS (U.S.)       Authorized Representative in the United States
INC.

By:  /s/  Douglas L. Ludwig                                   July 1, 2004
     -------------------------
     Name:  Douglas L. Ludwig
     Title: Treasurer
EXHIBIT INDEX

------ -------------------------------------------------------------------------
3.1    Restated Articles of Incorporation, as amended, of the
       Registrant (incorporated by reference to Exhibit 4.1 to the
       Registrant's Form S-8 filed on April 2, 1998 (File Number
       333-08576)).
------ -------------------------------------------------------------------------
3.2    By-Laws of the Registrant (incorporated by reference to Exhibit 4.2 to
       the Registrant's Form S-8
       filed on April 2, 1998 (File Number 333-08576)).
------ -------------------------------------------------------------------------
4.1    Restated Director, Executive and Employee Stock Option Plan of the
       Registrant, as amended through February 26, 2004 and Amendment No. 1
       thereto, dated as of May 12, 2004.
------ -------------------------------------------------------------------------
5.1    Opinion of Goodmans LLP.
------ -------------------------------------------------------------------------
23.1   Consent of KPMG LLP.
------ -------------------------------------------------------------------------
23.2   Consent of Goodmans LLP (included in Exhibit 5.1 hereto).
------ -------------------------------------------------------------------------
24.1   Power of Attorney (set forth on the signature page of this Registration
       Statement).
------ -------------------------------------------------------------------------