Luxury tourism is heading towards recovery after the severe difficulties experienced due to the Covid-19 pandemic. He bets on it Bill Gates who decided to dip into his wallet to take control of the 5-star hotel chain, Four Seasons, one of the most famous hotel brands in the world.
Through Cascade Investments, the father of Microsoft will buy from Kingdom Holdings, an investment company owned by the Saudi prince Alwaleed bin Talal, a slice of shares in the luxury hotel chain which will allow him to become the majority shareholder. Cascade will pay $2,2 billion in cash, rising from 47,5 to 71,25% of the shares. The transaction, which is expected to close in January, valued the entire Four Seasons company at $10 billion, including debt.
This is the first operation carried out by Bill Gates after the announcement divorce from wife Melinda, of which the details relating to the division of assets are not known. In any case, Cascade continues to manage Gates' assets but also part of the financial endowment of the Gates Foundation, the charity giant that the former couple founded in 2000.
In 2007, Cascade and Kingdom Holdings joined forces to each buy 47,5 percent of the Four Seasons shares for a total of $3,8 billion. Today, 23,75% of the shares remain in Alwaleed, while the remaining 5% of the company remains in the hands of Isadore Sharp, founder of the luxury hotel chain.
Four Seasons currently operates 121 hotels and resorts worldwide, including a brand new resort in Puglia and the San Domenico Palace Hotel in Taormina.
