Brunei eyes Four Seasons New York

Hassanal Bolkiah, Sultan of Brunei

The flagship  luxury hotel Four Seasons in midtown Manhattan has obviously become a target of the Brunei Investment Agency, the sultanate’s sovereign wealth funds that already owns the luxury hotel chain Dorchester Collection.

According to a Wall Street Journal report, Four Seasons Hotel New York owner H. Ty Warner received a bid for his 368-room luxury hotel for about $900 million from an unidentified Asian buyer, which is rumoured to be the government of Brunei’s investment arm. Warner bought the hotel in 1999 for $275 million.

Four Seasons has to decide within a month, a person close to the matter said. If a deal would take place, the buyer would terminate the management contract held by Four Seasons Hotels Inc. The deal would be one of the priciest transactions in the New York hotel sector.

The sultan of Brunei in 2011 sold the 889-room New York Palace Hotel to Northwood Investors LLC for $400 million in 2011 via the Brunei Investment Agency, after purchasing the hotel for $202 million in 1994.



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[caption id="attachment_5360" align="alignleft" width="200"] Hassanal Bolkiah, Sultan of Brunei[/caption] The flagship  luxury hotel Four Seasons in midtown Manhattan has obviously become a target of the Brunei Investment Agency, the sultanate's sovereign wealth funds that already owns the luxury hotel chain Dorchester Collection. According to a Wall Street Journal report, Four Seasons Hotel New York owner H. Ty Warner received a bid for his 368-room luxury hotel for about $900 million from an unidentified Asian buyer, which is rumoured to be the government of Brunei's investment arm. Warner bought the hotel in 1999 for $275 million. Four Seasons has to decide...

Hassanal Bolkiah, Sultan of Brunei

The flagship  luxury hotel Four Seasons in midtown Manhattan has obviously become a target of the Brunei Investment Agency, the sultanate’s sovereign wealth funds that already owns the luxury hotel chain Dorchester Collection.

According to a Wall Street Journal report, Four Seasons Hotel New York owner H. Ty Warner received a bid for his 368-room luxury hotel for about $900 million from an unidentified Asian buyer, which is rumoured to be the government of Brunei’s investment arm. Warner bought the hotel in 1999 for $275 million.

Four Seasons has to decide within a month, a person close to the matter said. If a deal would take place, the buyer would terminate the management contract held by Four Seasons Hotels Inc. The deal would be one of the priciest transactions in the New York hotel sector.

The sultan of Brunei in 2011 sold the 889-room New York Palace Hotel to Northwood Investors LLC for $400 million in 2011 via the Brunei Investment Agency, after purchasing the hotel for $202 million in 1994.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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