Cascade Investment Acquires Four Seasons Hotel Atlanta
Thursday November 21st, 2013 - 9:22AM EHOB
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ATLANTA—Cascade Investment, the private investment firm owned by entrepreneur Bill Gates, purchased the Four Seasons Hotel Atlanta from Host Hotels & Resorts, which has owned the property since 1998. Financial terms of the transaction were not disclosed.
This marks Cascade’s second Four Seasons acquisition in recent weeks. The transaction includes the acquisition of 99,000 sq. ft. of office space in the 54-story tower, of which the hotel occupies the first 19 floors.
The hotel will continue to be managed by Toronto-based Four Seasons Hotels and Resorts, which is owned jointly by long-term shareholders Cascade Investment, Kingdom Holding Co. and Triples Holdings.
Opened in 1997, the 244-key hotel, which includes 18 suites, offers a 7,790-sq.-ft. spa and fitness center, two restaurants and an atrium lobby with a marble staircase and European-style furnishings.
The property is less than one mile from demand generators that include the High Museum of Art, Piedmont Park, Botanical Garden and Fox Theatre.
Tags: Four Seasons Hotels and Resorts • Four Seasons Hotel Atlanta • Atlanta • GA • Cascade Investment • Host Hotels and Resorts • Hospitality • Brands • Acquisitions • Ownership • Management Companies •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.