Bill Gates might have built his fortune with Microsoft, but it looks like the billionaire tech-industry icon is in the business of owning hotels as well.
According to this article from Culture Map Houston, Gates’ Cascade Investments is buying the Four Seasons Hotel Houston from Maritz, Wolff & Co., which has owned it since 2000.
The the 404-room, five-diamond facility will undergo an upgrade when Cascade takes over. Gates’ investment arm is part owner of Four Seasons Hotels and Resorts, which is owned jointly by long-term shareholders Cascade Investment, Kingdom Holding Company, and Triples Holdings.
Michael Larson, chief investment officer of Cascade Investment stated: “We have great faith in Houston, particularly with its strong role in the global energy business. Likewise, because we are very confident in the new executive leadership at Four Seasons Hotels and Resorts and the exceptional in-place management team at this property, along with the enduring value of the Four Seasons brand, we see a compelling real estate investment opportunity here.”
More over on Culture Map Houston.