Top hotel is sold. | HOTEL FORMENTOR

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The iconic Hotel Formentor has been sold to a Canadian-based group in which Bill Gates is one of the chief shareholders. The sale for 165 million euros to the Four Seasons Group was agreed this morning.

The Pollensa council has already given the green light to a 20 million euro invesment plan by the new owners. According to reports this morning the Four Seasons Group wants to build a new spa and health centre at the hotel which will be one of the finest on the island.

Four Seasons operates more than 100 hotels and resorts worldwide. Since 2006, Bill Gates (through Cascade Investment) and Prince Al-Waleed bin Talal have been majority owners of the company.