Four Seasons Hotels CEO on Rebirth of Lower Manhattan, State of Global Consumer

The legendary Four Seasons Hotel chain just opened up its second property in New York City - an 82-story skyscraper overlooking the World Trade Center site. "[Developer] Larry Silverstein and his organization are synonymous with lower Manhattan and the steps that are being taken to revitalize it," said Allen Smith, president and CEO of Four Seasons Hotels and Resorts. "It's a privilege to be part of it." Smith also weighed in on the state of the global consumer, as the company operates luxury hotels in some 40 countries. "There is a lot of uncertainty out there," he said, adding that the company's large global footprint provides valuable protection against certain global headwinds. TheStreet's Scott Gamm reports from the Four Seasons Hotel Downtown NYC.