Bill Gates: A Man for Four Seasons
While you were sleeping, Host Hotels & Resorts sold off Atlanta's Four Seasons Hotel for a tidy sum of $62M. And Microsoft's Bill Gates is the founder of the hotel's new buyer, Cascade Investment Group. Host will continue to manage the hotel, and the purchase also includes 99k SF of office in the building. Now comes the battle of perception. For Host, getting rid of the Atlanta Four Seasons is part of its strategy to "reduce our market presence in our non-target markets," says CIO Struan Robertson. (Either that, or they just cant stand watching the Falcons collapse anymore.) For Cascade, it's about buying a "spectacular landmark property hotel in one of the strongest growth markets in the US," says CIO Michael Larson.