Austin | Dallas | Houston
Real Estate Rumblings

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

Enlarge
Slideshow
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.

Get Our Emails

Daily Digest

The Dining Report

Promo Alerts

We will not share or sell your email address

Vote Now
Who is the sexiest college coach in the Lone Star State?

We've been sizing up the field. And we don't mean the competition. Here are six of the sexiest college football coaches in the state of Texas. Who's your favorite?

Houston, hottest college football coach in Texas, August 2015, Tom Herman