Punta Mita, Mexico - Getting a room at the luxurious Four Seasons Punta Mita in Mexico is outside the realm of possibility for most us regular folks, with rooms now going for more than $1,500 per night.
But what about owning the entire 173-room resort?
Thatís something that Microsoft co-founder Bill Gates just picked up, paying a cool $200 million for the resort and 48-acres of adjacent developable land. The deal, which was led by Gatesí private investment arm Cascade Investment, is expected to close in the first quarter of 2014. Cascade is a 6.4 percent owner of Strategic Hotels & Resorts.
Four Seasons Punta Mita, located 45 minutes from Puerto Vallarta, was ranked by TripAdvisor as one of the top 25 luxury hotels in Mexico. According to the resort's website, Punta Mita is "a picturesque fishing village nestled on Mexico's Riviera Nayarit; an oasis of white-sand beaches and turquoise waters that boasts some of the best snorkelling, scuba diving, fishing, surfing, and golf in the world."
Cascade purchased the resort, which is located on a private peninsula within a 400-acre nature preserve, from Strategic Hotels & Resorts. According to the statement from Cascade, the resort will continue to be managed by Four Seasons Hotels and Resorts.
Michael Larson, chief investment officer of Cascade Investment, said in a statement: "We are a significant investor in Mexico and hold a long-term positive view on the country and its economy. This is an outstanding property asset. Our investment also underscores our confidence in the propertyís management team, the leadership of Four Seasons Hotels and Resorts and the strength of the Four Seasons brand overall."
Earlier this year, Cascade Investment bought the Four Seasons Hotel Atlanta for $62 million and the Four Seasons Hotel Houston for $140 million. In 2007 Saudi Billionaire Prince Alwaleed Bin Talal and Mr. Gates purchased a 95 percent stake in the Four Seasons chain in a deal valued at $3.8 billion.
Watch the short video above for a look at what Gates is buying.Source: GeekWire.com