Bill Gates’ investment firm to take control of Four Seasons in $2.21bn deal

Four Seasons Hotel and Private Residences New Orleans
Cascade Investment plans to increase its stake in Four Seasons Hotels and Resorts in a transaction that gives the luxury hospitality company an enterprise value of US$10 billion.
One of the world’s largest hotel groups has pledged to pursue ambitious growth plans amid a significant change in its shareholder base.
Bill Gates ups stake in Four Seasons
Cascade Investment, an investment firm that holds assets of Microsoft co-founder Bill Gates, has agreed an all-cash deal to purchase a 23.75% stake in Four Seasons Hotels and Resorts from Riyadh-based conglomerate Kingdom Holding Company (KHC), led by Saudi prince Alwaleed bin Talal, for US$2.21 billion. The proposed transaction gives Four Seasons an enterprise value of $10 billion.
The move would give Cascade a 71.25% controlling stake in Four Seasons, with KHC retaining 23.75% and Four Seasons founder and chairman Isadore Sharp keeping 5% through Triples Holdings.
Accelerating growth
Four Seasons said that Cascade’s decision to increase its exposure reflects the firm’s ‘strong belief and excitement for Four Seasons’ iconic brand’. The business added that Cascade has reaffirmed its support for the Toronto-headquartered company’s vision and unique culture, and that the deal strengthens Cascade’s commitment to provide the ‘resources to accelerate growth and expand its strategic goals’.
“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 the industry,” said Four Seasons CEO John Davison. “The unwavering support and partnership of our shareholders has and continues to be critical as we capitalise 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.”
A long-term investment in Four Seasons
Founded by Sharp in 1960, Four Seasons now manages 121 hotels and resorts, and 46 residential properties, in 47 countries, and has a pipeline of more than 50 schemes at various stages of development. Earlier this month, it announced the launch of the long-awaited Four Seasons Hotel and Private Residences New Orleans on the Mississippi waterfront.
Cascade first acquired shares in Four Seasons in 1997, a decade before the company went private. The deal is expected to close in January 2022, subject to regulatory approval and customary closing conditions.
Related Articles
Brand Overview: Radisson Hotels and Resorts to open 64 new properties [Infographic]
Radisson Phuket Mai Khao Beach (Imagery: Radisson Hotel Group) According to the TOPHOTELPROJECTS construction database, Radisson Hotels and Resorts is to add 11,639 new rooms to its global portfolio. Asia Pacific is to welcome the most openings from the brand, with...
IHG and tristar GmbH extend Northern Europe development plans
Hotel Indigo Vienna IHG Hotels & Resorts has announced the extension of this Multiple Development Agreement seeing the partnership grow to 60 hotels by 2035. As a part of this agreement, developments are currently planned for Germany, Austria, Switzerland, Poland...
Group Overview: The Ascott Limited to open 200 new hotels [Infographic]
Insight from the TOPHOTELPROJECTS construction database reveals significant growth for The Ascott Limited hotel group. The hospitality company is planning to add as many as 38,783 new rooms to its portfolio over the coming years. Focus on Asia Pacific The Ascott...
Lotte Hotels & Resorts named Five-Star in Forbes Travel Guide’s 2022 Star Awards
LOTTE NEW YORK PALACE’s prominence continues to augment since LOTTE HOTELS & RESORTS’ acquisition in 2015. LOTTE HOTEL ST. PETERSBURG honoured as Forbes Travel Guide Five-Star hotel for 3rd consecutive year Forbes Travel Guide announced the result of its 2022...
Brand Overview: Novotel to open 60 new properties [Infographic]
Novotel Überseequartier-Hamburg Süd Insight from the TOPHOTELPROJECTS construction database indicates 60 new projects under the Novotel brand. The hospitality brand is working towards adding 14,231 new rooms to its collection over the coming years. Global growth...
Deutsche Hospitality names new chief development officer
Marie-Noële Schwartzmann & Claus-Dieter Jandel (Imagery: Deutsche Hospitality) Marie-Noële Schwartzmann has been appointed chief development officer for the global hospitality company. Schwartzmann succeeds Claus-Dieter Jandel who made the decision to retire after...