Four Seasons Hotels and Resorts

History

2021: Cascade Investment buys 23.8% stake in Four Seasons Hotels and Resorts

On September 8, 2021, it was announced the sale of a 23.8% stake in Four Seasons Hotels and Resorts to Bill GatesCascade Investment Investment for $2.21 billion. The latter as a result of this transaction increased its share in the hotel chain to 71.3%. The entire business of the hotel operator is estimated at $10 billion.

Cascade Investment bought a stake in Four Seasons from Kingdom Holding, Saudi Prince al-Walid ibn Talal, who still has 23.75% of the hotel network. Another 5% belongs to the founder and chairman of the board of directors of Four Seasons, Isador Sharp, reports The Wall Street Journal.

Bill Gates gained control of the Four Seasons hotel chain

Four Seasons CEO John Davison, commenting on the deal with Cascade Investment, said that after the transition of Gates' company control, the network will "strengthen commitment to new technologies," as well as pay more attention to environmental conservation, sociocultural diversity and other issues of concern to young travelers.

We want to preserve our historical brand, but also develop it for the next generation of consumers, "he said.

The head of Kingdom Holding, Sarmad Zock, emphasized that the company has been negotiating the sale of its stake in Four Seasons for several years. During this time, she received offers from many potential buyers - from Chinese insurance companies to European groups specializing in luxury goods. But Kingdom Holding saw a suitable investor in Cascade Investment.

By September 2021, Four Seasons Hotels and Resorts owns 120 hotels and 46 residential properties in 47 countries. Among them are two hotels in Russia - the Moscow Hotel near Red Square and Lion Palace in St. Petersburg.

According to Booking.com, by September 9, 2021, the cheapest room at the Four Seasons Hotel in the center of Moscow costs 58.7 thousand rubles per day, the most expensive - 436.2 thousand rubles.^[1]

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