TORONTO.– Four Seasons Hotels Inc. is looking to expand its chain of luxury hotels in China and Latin America, although the Toronto-based company is not focusing on any specific region, CEO Isadore Sharp said.

"There's no one place that we are targeting," he told reporters after the company's annual meeting. "Opportunities come our way and, if it fits for Four Seasons, we go to where we are called to. So, Latin America is wide open, North America - there's still a lot going on here."

Four Seasons has a hotel in Shanghai - in which it recently reduced its interest - a hotel opening in Hong Kong and one being built in Beijing.

Sharp said there may be other areas for growth in China, given the country's population and rapidly expanding economy.

"People are what make commerce," he said. "So they are going to be a major force going forward, and for us to be able to grow in that part of the world will be a natural part of our future."

Last year, revenue per available room rose 31.9 per cent among the company's Asia-Pacific hotels, while hotels in South America helped boost full-year "revpar" results in its other Americas/Caribbean region to 18.2 per cent.

Four Seasons is looking to exit two long-term leases: the Pierre in New York and the Four Seasons Hotel Vancouver.

The India-based Taj Hotel chain will likely take over the lease of the Pierre from Four Seasons, which has leased and managed the hotel since 1981.

Taj is seeking to re-enter the North American market, while Four Seasons is looking to exit the lease before it expires in 2012.

In Vancouver, Four Seasons is looking to exit its lease but hasn't reached an agreement with the landlord, Sharp said.

"We've got some things that are in play at this point in time, but we're going to be in Vancouver long term," he said.

He said the 2010 Winter Olympic Games in the Vancouver area won't prevent the company from divesting.

"Olympics come and go. Hotels are going to be there for 50 years."