Leading luxury hospitality company Four Seasons Hotels and Resorts announced this week that its long standing shareholder, an affiliate of Microsoft founder Bill Gates' Cascade Investment, L.L.C., has entered into a definitive agreement to acquire a controlling interest in the hospitality company.
In the all-cash deal, Cascade will increase its existing 47.5 percent stake to 71.25 percent by purchasing half of the existing 47.5 percent stake owned by an affiliate of its long-term investment partner Kingdom Holding Company for $2.21 billion, valuing Four Seasons at a $10 billion enterprise value.
Four Seasons currently manages 121 hotels and resorts and has more than 50 projects in its development pipeline, reported Skift.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
