Four Seasons on Maui
sold to Dell firmThe investment company
of billionaire Michael Dell
is buying the luxury hotel
The investment firm of computer mogul Michael Dell has agreed to purchase the Four Seasons Resort Maui at Wailea for an undisclosed sum.
The 380-room luxury hotel will be bought by MSD Capital LP, a New York-based firm that exclusively manages the wealth of Dell, founder of computer maker Dell Inc., and one of the richest men in the world with an estimated net worth of $13 billion, according to Forbes.
The world-class resort is being sold by SCP (Maui 5), a single-purpose entity set up by Japan-based Shimizu Construction Co., one of the original developers of the property.
MSD, which is named for Dell's initials, was formed with more than $1 billion of Dell's own money to invest in technology startups. The investment focus has broadened over the years to include real estate and other assets.
Representatives of MSD Capital and SCP confirmed the sale agreement but they declined further comment.
The resort's general manager, Thomas Steinhauer, said the transaction would be imperceptible to guests and hotel employees, pointing to the 50-year management contract that Four Seasons Hotels and Resorts has for the property.
"Nobody has to worry about their pay, their jobs, their benefits or any of that," Steinhauer said. "The Four Seasons controls those things and that won't change."
The resort, which opened in 1990 and sits on 15 acres of south Maui coastline, was developed by Shimizu and TSA International at a cost of about $180 million. Shimizu later took over full ownership of the resort through SCP.