Beanie Baby founder offered $900 million for Four Seasons New York
Ty Warner, the owner of the Four Seasons New York and the founder of Beanie Babies has reportedly been offered $900 million for the hotel.
Bloomberg News reports that the offer came from an "unidentified" source in Brunei, rumored to be affiliated with the Brunei government.
Four Seasons now has a month to match the offer or lose one of their most important properties. The Brunei investment firm will rebrand the hotel and terminate the Four Seasons management contract if their offer is accepted.
Ty Warner Hotels and Resorts also owns the Kona Village Resort, the Montecito Country Club and the Las Ventanas al Paraiso Resort in Los Cabos, Mexico as well as the Miramar Resort and the Rancho San Marcos golf course.
Warner bought the Four Seasons New York in 1999 for $275 million. Billing at $41,836 per night, the Ty Warner Penthouse Suite rates a number three spot on CNN’s list of the "World’s Most Expensive Hotel Suites for 2012."
If Warner sells for this reported price it will be one of the most expensive hotel deals in New York City history. In February, Crain’s reported that the hotel’s occupancy was well below the city’s average of about 80 percent and that the billionaire was considering selling. It reported that the hotel had $185.6 million in mortgage debt and was being used as collateral for a larger debt package including three hotels.
Gretchen Kelly
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
TAP Air Portugal to operate 29 flights due to strike on December 11
Qatar Airways offers flexible payment options for European travellers
Airlines suspend Madagascar services following unrest and army revolt
Digital Travel Reporter of the Mirror totally seduced by HotelPlanner AI Travel Agent
Strike action set to cause travel chaos at Brussels airports