Cascade Investment has bought Four Seasons Hotel Houston from Maritz, Wolff & Co., which has owned the 404-room hotel since 2000.
The transaction is expected to close October 1. Financial terms were not disclosed.
The hotel will continue to be managed by Four Seasons Hotels and Resorts, which is jointly owned by Cascade, Kingdom Holding Co. and Triples Holdings.
“We have great faith in Houston, particularly with its strong role in the global energy business,” said Michael Larson, chief investment officer at Cascade Investment. “Likewise, because we are very confident in the new executive leadership at Four Seasons Hotels and Resorts and the exceptional in-place management team at this property, along with the enduring value of the Four Seasons brand, we see a compelling real estate investment opportunity here.”