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The legal battle between the owner of Biltmore Ty Warner and hotel management company Four Seasons are at odds, with Warner filing a petition earlier this week in the U.S. District Court, Southern District of New York, asking the Courts to step in to establish arbitrators to hear the dispute between the two parties.
Mr. Warner announced to Four Seasons in March 2021 that they were terminating their long-term agreements at Four Seasons Santa Barbara and Four Seasons in New York after accusing Four Seasons of misconduct. abuse of hotel property; According to him, Season Four breached its contractual and fiduciary duties due to Mr. Warner’s financial loss. The article states that the owner has poured hundreds of millions of dollars into the hotels to pay for major and ongoing renovations and to support day-to-day operations, and that the Four times he kept his efforts to increase the profits and reduce. prices while managing the property are in line with the standard of luxury hotels in the world. Season Four disputed the termination of the agreements and refused to leave the country.
The arbitration agreement between Mr. Warner and Four Seasons provides that a panel of three arbitrators will decide their dispute. For more than five months, the two sides have tried to establish a group of mediators, and together they have exchanged eight lists of possible mediators, considering sixty-five different candidates. The parties have yet to reach an agreement on a single arbitrator, let alone the three required to form a panel. “The parties are locked in a choice process that has proven unworkable without any means of breaking the existing ban,” the Court’s statement said. “Without a panel in place, the parties cannot proceed with their arbitration [Mr. Warner] it is not possible [his] The claims against the Four Seasons were heard and resolved accordingly.”
The Four Seasons Resort the Biltmore was closed at the beginning of the Covid-19 pandemic, and has not reopened in two and a half years. Warner says he has no plans to sell any of his Montecito properties, which include the Biltmore, the Coral Casino, Montecito Club, and the San Ysidro Ranch. He told the Journal last year he was using the foreclosure as an opportunity to reinvest in the beloved home.
The petition was filed on October 31, 2022. The future of the Biltmore will be more detailed as this story goes.
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