The Four Seasons Responds

This afternoon we got an email from Tony Pistillo, the director of public relations at the Four Season’s. It contained a statement that was released on May 9, 2009 regarding the battle for Avaria. Here it is:

Four Seasons announced today that it has no intention to voluntarily relinquish its role as manager of Four Seasons Resort Aviara in Carlsbad CA. Four Seasons has managed the Resort since 1997.

Very recently, a dispute arose with regard to the 2009 operating budget for the Resort and the Owner’s obligation to provide working capital necessary to fund debt service. That dispute is currently the subject of an arbitration proceeding, which Four Seasons fully respects and will abide by. Four Seasons has fulfilled all of its obligations under the relevant management agreements. Four Seasons intends to vigorously defend its rights in the arbitration process currently underway.

Four Seasons will also seek substantial damages from the Owner (which is beneficially owned Broadreach Capital Partners and asset-managed by Maritz, Wolff & Co.) and its counsel for their conduct in damaging the operation and reputation of the Resort and of Four Seasons.

Without knowing any of the back story we’ll just say it looks like this might get a little more involved before everything is settled.