Bethesda-Based Host Hotels Acquires Four Seasons Resort For $315M

BETHESDA, MD — Bethesda-based Host Hotels & Resorts has acquired the Four Seasons Resort and Residences Jackson Hole, a 125-room luxury resort in Jackson Hole, Wyoming, for about $315 million in cash, the real estate investment trust said Wednesday.

The Four Seasons Resort and Residences Jackson Hole is expected to be one of the Bethesda company’s top three highest earning assets.

The Wyoming resort is one of only a handful of luxury ski resorts in the United States. It sits on 6.3 acres in Teton Village, near the gondola at the base of the Jackson Hole Mountain Resort, one of the top-rated ski destinations in the country.

The resort also is near downtown Jackson and close to Grand Teton and Yellowstone National Parks, a unique feature, making it a year-round destination, Host Hotels & Resorts said.

The Jackson Hole Airport is undergoing a $65 million renovation and expansion, which is scheduled to be completed this year. The airport upgrades will better accommodate year-round demand and increasing visitor growth to Jackson Hole.

Host Hotels & Resorts is an S&P 500 company and is the largest lodging real estate investment trust in the U.S. and one of the largest owners of luxury and upper-upscale hotels. The company currently owns 73 properties in the United States and five properties internationally.

Looking back, Host International Co. was acquired by Marriott Corporation in 1982. In the early 1990s, Marriott divided its business into two companies, naming one Host Marriott Corp., which became a separate company. By the late 1990s, Host Marriott qualified as a real estate investment trust.

In 2006, Host Marriott Corp. changed its name to Host Hotels & Resorts Inc. to reflect its new multi-branded portfolio. Like the new Marriott International headquarters, Host Hotels & Resorts is based in downtown Bethesda.