Bill Gates’ Investment Firm Buys Controlling Stake In Four Seasons Hotels For $2.2 Billion

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Bill Gates' investment firm buys a controlling stake in Four Seasons Hotels for $2.2 billion

... [+]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

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Big money always appears when businesses go on sale. Sure Covid took a few 0s out of the cost.

Was Four Seasons Landscaping thrown into the deal for good measure?

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Bill Gates Investment Firm Buys Controlling Stake In Four Seasons Hotels For $2.2 BillionGates’ Cascade Investment LLC will purchase half of Saudi Arabian Prince Alwaleed bin Talal's stake in the luxury hotel chain.
Источник: Forbes - 🏆 394. / 53 Прочитайте больше »

Bill Gates’s Investment Firm Buys Controlling Stake in Four SeasonsFour Seasons Hotels and Resorts said Cascade Investment, the investment vehicle of Microsoft co-founder Bill Gates, has agreed to buy a controlling stake in the company, giving it an enterprise value of $10 billion Not Four Seasons Landscaping? is it not time for bill gates to retire and go sit in a park somewhere playing chess with other old folks? Apple story again. I’ll invest.
Источник: WSJ - 🏆 98. / 63 Прочитайте больше »