Getting a room at the luxurious Four Seasons Punta Mita in Mexico is outside the realm of possibility for most folks, with rooms now going for more than $1,500 per night.
But what about owning the entire 173-room resort?
That’s 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 Gates’ 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.
Four Seasons Punta Mita, located 45 minutes from Puerto Vallarta, was ranked by TripAdvisor as one of the top 25 luxury hotels in Mexico.
“The sale of the Four Seasons Punta Mita is a meaningful opportunity to realize the tremendous value that Strategic Hotels has created in this resort since acquiring it in 2001,” said Raymond L. “Rip” Gellein, Chairman and Chief Executive Officer of Strategic Hotels & Resorts, Inc. “Consistent with our stated strategy, the proceeds from the transaction will be used to de-leverage the company’s balance sheet.”
Here’s a look at what Gates is buying: