Monday, October 01, 2012
By Jake Nichols
JACKSON HOLE, WYO – JH Weekly has learned that owners of the Four Seasons Resort Jackson Hole intend to sell or otherwise divest themselves of the property in order to shore up their bottom line. Strategic Hotels Resorts owns interest in 18 properties throughout the U.S., Mexico and Europe. The real estate investment trust has owned the Four Seasons in Teton Village for a year and a half.
“This property is unique in that it is unencumbered by debt, is in pristine condition, and has benefitted from our value enhancing asset management programs,” stated Laurence Geller, President and Chief Executive Officer of Strategic Hotels Resorts, Inc., in a press release issued October 1, 2012. “Assuming we do achieve an outcome that meets our criteria, the sale proceeds would be used to further de-lever our balance sheet.”
Strategic Hotels Resorts acquired Four Seasons Jackson Hole in March 2011. Deutsche Bank Securities listed the transaction, which included Four Seasons Silicon Valley, as a package deal totaling $95 million. Last month, Strategic Hotels Resorts closed on the acquisition of the JW Marriott Essex House Hotel in New York City for a gross purchase price of $362.3 million – a deal in which Strategic Hotels Resorts became 51 percent majority owner and operator of the NYC hotel.
Hodges Ward Elliott, a leading hotel brokerage and investment firm, will handle the marketing.
Four Seasons Resort Jackson Hole received a Five-Star Hotel rating from Forbes Travel Guide for 2011. It was also awarded a Five Diamond Hotel rating from AAA, the only hotel in Wyoming to receive that distinction.
Photo: Expedia.com
Leave a Comment
The post eBuzz: Four Seasons for sale: Five-star resort on the block appeared first on Global HDS.
