Buyers bet on record corporate travel to snap up resort hotels
Luxury resorts are back in demand as investors take advantage of the economic rebound and higher business spending
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Los Angeles
AT the Four Seasons resort in Scottsdale, Arizona, corporate customers crowd meeting rooms and bars as vacationers take "cowboy for a day" classes or relax in TV-equipped pool cabanas. It's the business travellers that attract Strategic Hotels & Resorts Inc.
The hotel owner agreed last month to purchase the Four Seasons Resort Scottsdale at Troon North for US$140 million on expectations that a rebound in corporate travel will accelerate, said chairman and president Raymond "Rip" Gellein. The Chicago-based real estate investment trust, which in June acquired Blackstone Group's stake in the luxury Hotel del Coronado near San Diego, is seeking to buy additional resorts in areas such as California and southern Florida, he said.
Share with us your feedback on BT's products and services
