Narayan AmmachchiBill Gates, Microsoft’s co-founder and one of the richest men in the world, has reportedly purchased Mexico’s picturesque Four Seasons Punta Mita resort from Strategic Hotels & Resorts, Inc.
Gates’ investment arm Cascade Investment L.L.C has agreed to pay $200 million for the resort, according to a filing with the US Securities and Exchange Commission.
But Strategic Inc, which has been running the property since 2001, is facing a shareholders’ revolt for its decision to sell the resort. According to Chicagorealestatedaily.com, New York-based hedge fund Orange Capital LLC, which owns a 4% stake in Strategic, has disputed the deal.
The transaction is likely to be closed some time in the first quarter of 2014. With white-sand beaches and clear waters, Punta Mita has long been a favorite hangout for several Hollywood actors. The resort is situated on the northern tip of Bahía de Banderas on the Pacific coast, and is an hour’s drive from Puerto Vallarta. Four Seasons says the resort offers snorkeling, scuba diving, fishing, surfing and golf.
Punta Mita includes 173 plush guest rooms and suites, as well as 55 full and fractional ownership villas. It is complete with three pools, two private beaches, 10 tennis courts, two Jack Nicklaus-designed golf courses, a 14,200 square-foot spa, and a luxurious 55-foot luxury yacht available for guests to charter.
Reports say the resort has received the AAA Five Diamond Award for 11 consecutive years.
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