Four Seasons could lose New York property
Four Seasons Hotel New York owner H. Ty Warner received a bid for his 368-room luxury hotel in midtown Manhattan for about $900 million from an unidentified Asian buyer, according to a person close to the situation.
The unsolicited bidder is probably affiliated with the government of Brunei, the kingdom located on the island of Borneo, said the person, who asked not to be identified because the negotiations are confidential. If a deal is completed, the buyer would terminate the management contract held by Four Seasons Hotels Inc., the person said.
The Brunei Investment Agency owns several major luxury hotels around the world, including The Dorchester (London), 45 Park Lane (London), Plaza Athenee (Paris), Le Meurice (Paris), Coworth Park (Ascot), Bel Air (Beverly Hills), Beverly Hills Hotel (L.A.). The Dorchester Collection also manages Le Richmond in Geneva, the only hotel it does not own.
The sale of the hotel, which Warner bought in 1999 for $275 million, would be one of the priciest in Manhattan
adapted from The Wall Street Journal and Bloomberg