Austin | Dallas | Houston
Real Estate Rumblings

Bill Gates is buying one of Houston's most prominent hotels in a major downtown deal

Four Seasons Hotel Houston at night
Four Seasons Hotel in downtown Houston Photo courtesy of Greater Houston Convention and Visitors Bureau
News_Hotel pools_Four Seasons_pool
The pool area at the Four Seasons Hotel Photo by Peter Vitale
Bill Gates head shot horizontal
Four Seasons Hotel Houston at night
News_Hotel pools_Four Seasons_pool

Bill Gates, the founder of Microsoft, is buying the Four Seasons Hotel in downtown Houston, and is expected to upgrade the property, considered one of the finest hotels in Texas.

Located at 1300 Lamar Street, near Discovery Green park,  the luxury hotels features 404 rooms and suites and 64 rental apartments.  The hotel, ranked as a AAA Five-Diamond property, is home to the highly regarded Quattro restaurant.

 The price was not disclosed and transaction is anticipated to close on Oct. 1. 

Gates’ Cascade Investments is buying the Four Seasons from Maritz, Wolff & Co., which has owned it since 2000. The price was not disclosed and transaction is anticipated to close on Oct. 1.

The hotel will continue to operate with the Four Seasons brand. Gates’ investment arm is part owner of the Toronto-based Four Seasons Hotels and Resorts, which is owned jointly by long-term shareholders Cascade Investment, Kingdom Holding Company and Triples Holdings. The hotel company recently announced the appointment of J. Allen Smith as CEO.

“We have great faith in Houston, particularly with its strong role in the global energy business,” said Michael Larson, chief investment officer of Cascade Investment. “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.

"We look forward to Four Seasons Houston continuing as the local market leader and maintaining its unique position in the Houston community.”

The Four Seasons opened in Houston in 1982 on a block bounded by Lamar, Caroline, Austin and  Dallas streets in what was then considered the sleepy side of downtown.  But there has been considerable growth in the part of downtown over the last decade.

Downtown hotel occupancy rates are high and several new hotels are under development in downtown, including the 1,000-room Marriott Marquis, about four or five blocks away from the Four Seasons.

Newsletters for exploring your city

Daily Digest

Houston news, views + events

The Dining Report

News you can eat

Promo Alerts

Special offers + exclusive deals

We will not share or sell your email address

Vote Now
Select CultureMap's 2015 Charity Partner

Part of our mission at CultureMap is to shine a light on all the good work Houston non-profits do to make our city a better place to live. That's why we're bringing back the CultureMap Charity Challenge presented by Yellow Cab.

Help us select our 2015 charity partner by voting once a day, every day, until February 20 at midnight.

CultureMap Houston 2015 Charity Challenge January 2015 Alzheimer's 270 by 202 pixels