Cascade Investment affiliate to acquire controlling stake in Four Seasons

i By September 9, 2021 No Comments

A long-standing shareholder in Four Seasons Hotels and Resorts has entered into a definitive agreement to acquire controlling interest in the luxury hospitality company.

An affiliate of Cascade Investment, L.L.C., which holds investments of Microsoft’s Bill Gates, currently has a 47.5 percent stake in Four Seasons. Upon purchasing half of the existing 47.5 percent stake owned by an affiliate of Kingdom Holding Company for $2.21 billion USD (valuing Four Seasons at a $10 billion enterprise value), it will own 71.25 percent of the company.

Four Seasons founder and chairman Isadore Sharp, through Triples Holdings Limited, will retain his five percent stake.

“As we mark our 60th anniversary and look back on the profound impact that Four Seasons has had on luxury hospitality we also look forward with tremendous excitement and confidence in the future of our industry,” said Four Seasons CEO John Davison. “The unwavering support and partnership our shareholders has and continues to be critical as we capitalize on growing opportunities to serve luxury consumers worldwide.

“Our company is at yet another key moment in its storied history and the confidence of our shareholders in Four Seasons and our strategic vision help position the iconic Four Seasons brand for continued success.”

The sale is expected to close in January 2022, pending regulatory approvals and the satisfaction of other customary closing conditions.

Sharp founded Four Seasons in 1960. The company now manages 121 hotels and resorts and 46 residential properties in 47 countries. It currently has more than 50 projects at various stages in development. Four Seasons took the company private in 2007.

Recent openings include Four Seasons Hotel and Private Residences New Orleans, San Domenico Palace, Taormina, A Four Seasons Hotel (Sicily, Italy), and Four Seasons Hotel Bangkok (shown in image at top of post).

Cascade Investment, L.L.C. is a private investment entity that holds assets of William H. Gates III.  Based in Riyadh, Saudi Arabia, Kingdom Holding Company is one of the largest investment firms in the world.