Bill Gates: more of a Hotelier
Nov 7th, 2006 by Happy Hotelier
The Canadian based Four Seasons Hotels Inc. that manages 73 Luxury Hotels in 30 countries is under a bid that values the company at a US $ 3,7 bio, from a Saudi Prince, Alwaleed Bin Talal Alsaud, currently according to Forbes the world’s eight richest person, through his Kingdom Hotels International, who teams up in this bid with the world’s first richest person, Bill Gates through his Cascade Investment LLC. They had already a 30% stake together for a number of years and will extent their interest to 90%, while the company’s founder, Isadore Sharp (75) will keep 10% of the shares.
The offer is described in legal lingo here at the CNW site.
Kingdom Hotels International took over another Luxury Canadian hotel group, Fairmont Hotels & Resorts which then was combined with the Raffles group already in January 2006 with a total transaction value of US $ 5,5 bio.
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[...] As mentioned »earlier, Four Seasons is under bid from Bill Gates and Prince Alwaleed Bin Talal Alsaud, the principal behind Kingdom Hotels. [...]