NEWS
HOTELS
BILL GATES BUYS LARGE STAKE IN FOUR SEASONS HOTELS & RESORTS As reported by Bloomberg, Bill Gates will take control of the Four Seasons hotel chain after his investment firm agreed to acquire a stake from Saudi Prince Alwaleed bin Talal’s Kingdom Holding Co. The deal aims at rebounding the luxury hospitality brand following the pandemic-induced slump. Gates’s Cascade Investment LLC will pay USD 2.2 billion in cash to boost its stake in Four Seasons Holdings to 71.25 percent, up from 47.5 percent. In 2007, the Canadian luxury hotel chain Four Seasons was privatized by
accepting a USD 3.8 billion takeover bid from Gates and bin Talal. As we mark our 60th anniversary and look back on the profound impact that Four Seasons has had on luxury hospitality we also look forward with tremendous excitement and confidence in the future of the industry," said Four Seasons CEO John Davison. "The unwavering support and partnership of our shareholders has and continues to be critical as we capitalize on growing opportunities to serve luxury consumers worldwide. fourseasons.com
10 NEW MARRIOTT PROPERTIES TO LAUNCH IN TURKEY BY THE END OF 2022 Marriott International continues to see growth in its select portfolio across brands such as Four Points by Sheraton and Residence Inn by Marriott. Four Points by Sheraton builds upon its momentum in the Turkish market, with the Four Points by Sheraton Istanbul Kagithane slated to open this year and the Four Points by Sheraton Elazig projected to open in 2022. To meet the demand for long-stay accommodations in the country, the company is expected to debut its extendedstay brand, Residence Inn by Marriott, with the anticipated opening of Residence Inn
10
HOSPITALITY NEWS ME | OCT - NOV 2021
by Marriott Istanbul Atasehir later this year. Following the recent opening of Orientbank Hotel Istanbul, Autograph Collection, two new Autograph Collection hotels are planned to open in Istanbul – The Burdock, Autograph Collection in 2021 and Orient Occident Hotel, Autograph Collection in 2022. Delta Hotels by Marriott, which provides guests with exactly what they need for a seamless travel experience, made its debut in the country in 2019 with the opening of Delta Hotels by Marriott Istanbul Halic. The brand is slated to open Delta Hotels by
Marriott Istanbul Levent by the end of 2021. Sheraton Hotels & Resorts, which is currently undergoing a much-anticipated design transformation, remains a popular brand in Turkey. Following the recent openings of Sheraton Istanbul City Center and Sheraton Istanbul Levent, the brand is anticipated to open Sheraton Istanbul Esenyurt next year. Marriott Hotels, the company’s flagship brand, continues to further grow its portfolio in Turkey with the recent opening of Izmir Marriott Hotel. marriott.com
