A Chinese company has divested itself of a multimillion-dollar Teton Village property, selling it to an American luxury resort company.
Bethesda, Maryland-based Host Hotels and Resorts Inc. bought the Four Seasons Resort and Residences-Jackson Hole from Dajia Insurance Group Co. for $315 million.
“We are thrilled to add the Four Seasons Resort and Residences Jackson Hole to our portfolio. It is an iconic, irreplaceable asset in a new market for Host, and one of only a handful of luxury ski resorts in the country,” said Host President and CEO James F. Risoleo, in a statement on the sale.
Luxury In The Tetons
The resort has 125 large rooms and suites averaging about 650 square feet each. They have gas fireplaces and views of the surrounding mountains. There also is a 5-bedroom, 4,700 square foot penthouse, three upscale restaurants and bars, a pool cafe, and a 16-treatment room alpine spa.
Expedia listed a stay in a three-bedroom suite with views of the mountains at more than $4,500 per night this weekend.
The resort opened in 2003 and is built on 6.3 acres of land in Teton Village.
Chinese Ownership
This year, the resort’s guest rooms were comprehensively renovated, according to the Host statement on the purchase.
Dijia put the Four Seasons up for sale, along with luxury properties in Laguna Beach, California, and Scottsdale, Arizona. The three properties combined are valued at $1.3 billion.
Chinese companies’ interest in Wyoming properties has gained the attention Republican U.S. Congressional candidate Harriet Hageman. She circulated a petition in August calling for a ban on Chinese companies investing in farmland in Wyoming and the United States.
“Chinese corporations are buying up American farmland at an alarming rate,” read the headline on Hageman’s petition. “This is a threat to Wyoming, to America and on our way of life.”
China also has been investing in U.S. farmland, prompting concerns at the federal level. In June, Republican members of Congress introduced legislation to curb China’s investment in U.S. agriculture. The Promoting Agriculture Safeguards and Security Act would ban China, Russia, Iran and North Korea from buying U.S. agricultural companies.
Jackson Hole has courted Chinese investors for some time. In 2104, the Jackson Hole News & Guide reported that Jackson Hole Realtor Bruce Simon organized a tour of Wyoming and Idaho for Adam Wu, COO of China Business Network. Wu was reportedly impressed with the area’s resorts and farmland in Idaho.
