... [+]Bill Gates will purchase a majority stake in the Four Seasons hotel chain for $2.21 billion, the companyCascade Investment LLC, which manages the Microsoft cofounder’s massive fortune, agreed to buy half of Saudi Prince Alwaleed bin Talal’s stake in the hotel chain. The all-cash deal pushes Gates’ ownership from 47.5% to 71.25% and values the Four Seasons at $10 billion in enterprise value. The deal is expected to close in January 2022.
The purchase is a bet by Gates in part on the rebound of high-end business travel to big cities, which has suffered a blow during the pandemic. At least two Four Seasons hotels —including the one in midtown Manhattan— are currently closed; the midtown Manhattan location, which is owned by Beanie Baby’s billionaire founder Ty Warner, is “undergoing substantial infrastructure and maintenance work,” according to a note on its website.
In a statement, the hotel operator said the deal “marks a pivotal point in the evolution of Four Seasons” and affirms Cascade’s commitment to provide the Four Seasons “with resources to accelerate growth and expand its strategic goals.” Through his investment vehicle Kingdom Holding Co., Prince Alwaleed will hold onto his remaining 23.75% stake.long counted the Saudi Prince as a billionaire — and one of the richest people in the world, but
More deals with Saudi Arabia who also owns Four Seasons
BILL GATES OUGHT TO FOCUS ON 'HOMELESS COMBAT WOUNDED VETERANS THAT 'STILL LIVE IN CARDBOARD BOXES & DON'T KNOW IF THEY HAVE ANOTHER MEAL'; WITH SICKNESS & HUMAN PERIL IN CONSTANT SURROUNDINGS & LEAVE THE 'HOTEL BUSINESS TO THEIR OWN SOCIETY'?
Moderna CEO immediately sold 19,000 shares after the Japan contamination. His big dump insider selling was revealed Friday after hours.
The most sinister man on the planet ….
Didn’t Gates say he was going to give away his whole fortune?
Selling a controlling stake in Four Seasons Hotels could avail opportunities for nominal investments.
Sound good to me ! VIP
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Hotel quarantine?
Buy low Sell high
Trump has one in DC he wants...needs to get rid of Bill..Bargain
The lawn care division?
good
I thought Four Seasons Total Landscaping was the place to invest. Ooops.
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