Bill Gates’ Cascade Takes Controlling Stake in Four Seasons Hotels
Bill Gates’ Cascade Investment has increased its stake in Four Seasons Hotels and Resorts from 47.5% to 71.25%, the hotel operator announced Wednesday. Cascade acquired half the existing 47.5% stake held by Riyadh-based Kingdom Holding Company (KHC) for $2.21 billion in cash, valuing Four Seasons at $10 billion.
Four Seasons’ founder and chairman, Isadore Sharp, will retain his 5% stake in the company. Cascade first invested in Four Seasons in 1997, at a time when the company was public.
“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,” said Four Seasons CEO John Davison.
Following the transaction, which is expected to close in January 2022, KHC remains “strongly committed” to Four Seasons and looks forward to continuing to assist with its growth plans.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).