Exhibit 99.5

    FOUR SEASONS HOTELS INC.
    SCHEDULED OPENING OF PROPERTIES UNDER CONSTRUCTION OR
    IN ADVANCED STAGES OF DEVELOPMENT

                                                               Approximate
    Hotel/Resort/Residence Club and Location(1),(2)          Number of Rooms

    Scheduled 2006/2007 openings
    ----------------------------
    Four Seasons Hotel Alexandria, Egypt                           125
    Four Seasons Hotel Florence, Italy                             120
    Four Seasons Hotel Istanbul at the Bosphorus, Turkey           170
    Four Seasons Resort Koh Samui, Thailand(x)                      50
    Four Seasons Resort Lana'i at Koele, Hawaii, USA(3)            100
    Four Seasons Resort Maldives at Landaa Giraavaru, Maldives     100
    Four Seasons Hotel Mumbai, India(x)                            235
    Four Seasons Hotel Westlake Village, California, USA           270

    Beyond 2007
    -----------
    Four Seasons Hotel Bahrain, Bahrain                            270
    Four Seasons Hotel Baltimore, Maryland, USA(x)                 200
    Four Seasons Resort Barbados, Barbados(x)                      120
    Four Seasons Hotel Beijing, People's Republic of China         325
    Four Seasons Hotel Beirut, Lebanon                             235
    Four Seasons Resort Bora Bora, French Polynesia                105
    Four Seasons Hotel Doha at the Pearl, Qatar(x)                 250
    Four Seasons Hotel Dubai, United Arab Emirates(x)              375
    Four Seasons Hotel Hangzhou, People's Republic of China(x)     100
    Four Seasons Hotel Kuala Lumpur, Malaysia(x)                   140
    Four Seasons Hotel Macau, Special Administrative
     Region of the People's Republic of China(x)                   370
    Four Seasons Hotel Marrakech, Morocco(x)                       140
    Four Seasons Resort Mauritius, Republic of Mauritius(x)        120
    Four Seasons Hotel Moscow, Russia(x)                           185
    Four Seasons Hotel Moscow Kamenny Island, Russia(x)             80
    Four Seasons Hotel New Orleans, Louisiana, USA(x)              240
    Four Seasons Resort Puerto Rico, Puerto Rico(x)                250
    Four Seasons Hotel Seattle, Washington, USA(x)                 150
    Four Seasons Resort Seychelles, Seychelles(x)                   55
    Four Seasons Hotel Shanghai at Pudong, People's
     Republic of China(x)                                          190
    Four Seasons Hotel St. Petersburg, Russia                      200
    Four Seasons Hotel Taipei, Taiwan(x)                           275
    Four Seasons Hotel Toronto, Ontario, Canada(x)                 265
    Four Seasons Resort Vail, Colorado, USA(x)                     120

    (x) Expected to include a residential component.

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    (1)  Information concerning hotels, resorts and residential projects
         under construction or under development is based upon agreements and
         letters of intent and may be subject to change prior to the
         completion of the project. The dates of scheduled openings have been
         estimated by management based upon information provided by the
         various developers. There can be no assurance that the date of
         scheduled opening will be achieved or that these projects will be
         completed. In particular, in the case where a property is scheduled
         to open near the end of a year, there is a greater possibility that
         the year of opening could be changed. The process and risks
         associated with the management of new properties are dealt with in
         greater detail in our 2005 Annual Report.

    (2)  We have made an investment in Orlando, in which we expect to include
         a Four Seasons Residence Club and/or a Four Seasons branded
         residential component. The financing for this project has not yet
         been completed and therefore a scheduled opening date cannot be
         established at this time.

    (3)  The Lodge at Koele is currently managed by Four Seasons and is
         expected to be rebranded as Four Seasons Resort Lana'i at Koele in
         2006 when the necessary renovations are completed.