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Four Seasons risks losing landmark New York hotel
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.
If Warner sells for this price it will be one of the most expensive hotel deals in New York’s history.
Four Seasons now has a month to match the offer or lose one of its most prestigious properties.
If successful, the Brunei investment firm plans to rebrand the hotel and end the Four Seasons management contract.
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.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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