Microsoft's Bill Gates Buys Into Atlanta
The software billionaire and Saudi Prince Alwaleed Bin Talal now own the Four Seasons Hotel Atlanta.
Would you like a PC on your pillow? Better than a mouse, right? All kidding aside, there was some pretty big news out of Midtown’s Four Seasons Hotel Atlanta on Thursday. Host Hotels & Resorts, Inc. announced Thursday the sale of the 244-room hotel along with the associated office space for $62 million.
Located in the heart of Midtown, the luxury property was sold to a private investment firm, Cascade Investment, controlled by Microsoft co-founder Bill Gates. This is the second acquisition of a Four Seasons property by Cascade in recent weeks. Saudi Billionaire Prince Alwaleed Bin Talal and Gates purchased a 95% stake in the Four Seasons chain in 2007 in a deal valued at $3.8 billion, according to Bloomberg.
"Four Seasons Hotel Atlanta is a spectacular landmark property hotel in one of the strongest growth markets in the U.S.," said Michael Larson, chief investment officer of Cascade Investment.
The 54-story hotel opened in 1997 and features 99,000 square feet of office space in addition to all the luxury amenities one expects from the chain, including a 7,790-square-foot private spa and fitness center, two restaurants and a lounge and stellar rooftop views of the Atlanta skyline.
There are also residential condominiums in the building and current and future owners will reportedly not be affected by the sale. The Four Seasons Hotel Atlanta was one of three hotels in Georgia making Forbes Travel Guide’s 2013 list of Star Award Winners. The others were The Cloister on Sea Island and The Lodge at Sea Island Golf Club on St. Simons.