Bill Gates’ private equity firm, Cascade Investment, is poised to take majority control of Four Seasons Hotels & Resorts as part of a $2.21 billion deal.

Four Seasons said Cascade has agreed to acquire half of a 47.5% percent stake currently owned by an affiliate of Saudi Arabia-based investment group Kingdom Holding Company. 

The transaction, which is expected to close in January, will increase Cascade’s stake in Four Seasons from 47.5% to 71.25%. Kingdom Holding’s affiliate will hold a 23.75% stake.

More luxury hotel news

  • Pan Pacific London is brand’s first hotel in Europe
  • Hotel del Coronado refresh preserves illustrious past
  • Langham Boston state of the art after refit

The remaining 5% stake will continue to be held by Four Seasons founder and chairman Isadore Sharp, under his Triples Holdings Ltd. corporation.

In a statement, Four Seasons said that the deal “marks a pivotal point in the evolution of Four Seasons, strengthening Cascade’s commitment to provide the company with resources to accelerate growth and expand its strategic goals.”

Cascade has been a stakeholder in Four Seasons since 1997.

Four Seasons’ portfolio consists of 121 hotels and resorts and 46 residential properties across 47 countries. 

Source: Read Full Article