Everything is always for sale at the right price. And, in the case of the Four Seasons Resort and Residences Jackson Hole the price was evidently just right.
The resort has been sold to private investment firm BDT & MSD as part of a $1.1 billion package that included Four Seasons Resort Orlando at Walt Disney, according to an announcement by Host Hotels and Resorts.
Host Hotels purchased Four Seasons Resort in Jackson from Chinese company Dajia Insurance Group in 2022 for $315 million in cash.
In a fourth-quarter earnings call, Host Hotels and Resort’s CEO James Risoleo told investors asking about what the sale means for the luxury market that everything is always for sale “at the right price.”
“And we meant it,” Risoleo said. “This was an opportunistic transaction to create immediate and tangible value for our shareholders. We’re looking for an opportunity to realize that value, we found one, and we executed on it. So, even though the Four Seasons were top performers for Hosts, and we fully expect luxury to continue outperforming, we believe it was prudent to maximize value for our shareholders by selling these assets in an attractive profit.”
The two assets, as a package, sold for $175 million more than when purchased, Risoleo went on to add, and both resorts performed very well throughout the company’s ownership. as well.
The buyer pool for luxury properties, Risoleo added, is “deeper than people realize,” with lots of high-net worth individuals on the sidelines, just waiting for the right "inflection point" to jump in.
“We’re hopeful that this is the inflection point,” Risoleo said. “That we can prove out that there is value here, value to be created. And we’re certainly hopeful that we’re going to get and see some multiple expansions as a result of not only this decision but all the capital allocation decisions that we’ve made.”
Who Is BDT & MSD
The Four Seasons Resort in Orlando has 444 rooms and is valued around $750 million.
Four Seasons Resort in Jackson, meanwhile, has 125 rooms, and would make up the remainder of the $1.1 billion deal at around $650 million.
BDT & MSD Partners did not respond to questions from Cowboy State Daily about their plans for the ski-in, ski-out resort that sits at the base of Jackson Hole Mountain Resort.
The private investment firm, founded by Byron Trott and Micheal Dell in 2023, bills itself as a “merchant bank to generational builders” on its website.
Dell is the billionaire founder and CEO of Dell Technologies and has previously invested in other Four Seasons properties, including the Hualalai resort in Hawaii. In 2025, Forbes ranked him as the 17th richest billionaire in the world, at a net worth of $97.7 billion.
Trott has been featured in national media stories as the favorite banker of Warren Buffet and other wealthy families.
Buffet has reportedly called Trott “the rare investment banker who puts himself in his client’s shoes” and that it “hurts me to say this — he earns his fee.”
Largest Real Estate Purchase?
The sale has to be among the largest, single real estate transactions in Jackson Hole history, realtor and Teton Village resident David Yoder told Cowboy State Daily.
“There have been quite a few big projects,” he said. “But I would say this would probably be the single most, largest investment. “I can’t think of any others. There’s been a lot of investment (where) you purchase it and then you put 10s of millions of dollars into upgrading and changing it, like the top of Snow King. They bought that and have just pumped millions and millions of dollars into making it what it is now.”
The Hoback Club, meanwhile, a collection of 20-plus luxury ski-in, ski-out residences in Teton Village, closed last year for $250 million, and was highlighted in court documents as one of the Wyoming’s most expensive structures.
A company called Mogul Capital, meanwhile, has proposed a 362,000-square-foot megahotel and condo project north of Jackson, a development that Yoder said will be larger than Four Seasons, once realized.
“Jackson Hole is just very expensive,” Yoder said. “Teton County is one of the most expensive counties in the nation.”
Devon Viehman, an associate broker with the Viehman Group, told Cowboy State Daily that she believes it probably is the largest single real estate transaction.
“I’m not aware of any deal this large happening before,” she said. “I checked with some other high-end brokers, and they don’t either."
Doesn’t Change Future Plans
Yoder doesn’t believe the sale will affect forward momentum in Teton Village, in fact, he expects the new owners will want to be part of such efforts.
“We, as property owners in Teton Village, and I know that Jackson Hole Mountain Resort and other interested parties have a goal to create the best mountain ski village certainly in North America if not larger than that,” he said. “And we’re working hard updating our master plan to make this place just the best it can be.”
Yoder expects “a lot of change” to happen over the next 10 years, thanks to those efforts.
“Everybody who is involved is digging their feet in, thinking about what we can do to grow this place,” he said. “People aren’t thinking about hanging on and just letting it sit the way it is.”
A 10-year timeframe may sound slow, Yoder added, but it’s necessary to do the right planning to ensure the best results.
“We’re working with consultants and others on the village of the future,” he said. “How to make what is now parking into retail and residential, kind of a walking village.”
As a first step, a company has been hired to handle food and commercial deliveries to a place that’s just on the outskirts of Teton Village.
“The trucks drop everything off there, and then there are little electric golf carts that come and deliver to each of the restaurants and commercial businesses,” Yoder said. “And so, it’s a first step to take traffic off the roads and then, as we develop the village, we’ll have more of a European ski village feel. That’s the plan.”
Renée Jean can be reached at renee@cowboystatedaily.com.
