Chapter 247: William Johnson

In a suite at the Carlyle Hotel in New York, after enjoying a meal, Arthur and Yu Feihong were in the bedroom, sweating together.

"Arthur, do you really want me to invest in that TV series? What if it loses money?" Yu Feihong asked, letting Arthur enjoy her softness but thinking about the series.

Arthur smiled. "It's not a lot of money. Even if it loses, it's not a problem."

"But I'm a student now. How can I explain having so much money?" Yu Feihong frowned.

Arthur turned over and hugged her. "Just say it's a scholarship or that you made some small investments. What does it matter?"

Yu Feihong smiled. "Fine, I'll figure it out. I'm a millionaire now!"

"Who says you're not?" Arthur thought for a moment. "I'm going to Boston next. When are you going back to Los Angeles?"

"In the next few days. I've taken leave, so don't worry about me," Yu Feihong said, leaning into Arthur. 

...

Two days later, Arthur went to Boston to discuss the Ritz-Carlton Hotel with William Johnson.

Arthur visited Boston for the first time and met William Johnson, the wealthy man who made his fortune in waffles, at the Boston Garden to watch the Celtics play against the Miami Heat.

The Boston Garden, originally named the Boston Madison Square Garden, was designed by the same architect as the New York Madison Square Garden and is located above North Station.

"Arthur, everyone in Boston knows the Celtics, hahaha," William Johnson said to Arthur.

Arthur leaned his head on his hand. "Didn't Larry Bird announce his retirement in August this year? The Celtics will go through a decline like the Lakers."

"But we still have Red. He'll keep the Celtics' glory," William Johnson said confidently.

Arnold "Red" Auerbach, known as the "Red Auerbach," was still the Celtics' general manager.

"Arthur, I really believe in the Ritz-Carlton brand. You should know that. I have a lot of properties in Atlanta and I'm planning to move my headquarters back there," William Johnson, who was born in Atlanta, said.

Arthur smiled, "The real estate business isn't great right now. The continuous economic downturn in the U.S. is real. We both know the quality of the Ritz-Carlton brand. I'm offering an all-cash purchase."

Arthur knew William Johnson was planning to invest in Atlanta properties. Handing over the Ritz-Carlton hotel to him without substantial investment and resources would make it difficult to develop.

"In cash, I can sell 49% of the Ritz-Carlton brand for $100 million, but it won't include the Boston Ritz-Carlton Hotel," William Johnson proposed after some thought.

Arthur kept a neutral expression and shrugged, "I came here with sincerity. Without the Boston Ritz-Carlton Hotel property, the Ritz-Carlton brand won't have a flagship hotel. I have many options. My plan is to bring the Ritz-Carlton to major cities like Los Angeles and New York.

$100 million, and I'll buy the entire Ritz-Carlton brand. I'll take a 20% stake in the Boston Ritz-Carlton Hotel," Arthur countered.

"That's impossible, Arthur," William Johnson shook his head.

"This is my best offer. Your Atlanta properties need cash," Arthur smiled. "Besides, I'm not interested in some of the domestic Ritz-Carlton hotels. I plan to take the brand to international metropolises."

William Johnson explained, "The first overseas Ritz-Carlton hotel is being renovated in Hong Kong..."

After the game, on the way back to the hotel from Boston Garden, Arthur and Emily Shead, an investment manager from California Pacific, sat in the car.

Arthur initially planned to acquire the Ritz-Carlton under the Galaxy name. But after hearing that New York's new mayor, Rudy Giuliani, planned to clean up Times Square, Arthur decided to build a skyscraper near Times Square. It would serve as the Galaxy Group's New York headquarters and house the Ritz-Carlton New York Hotel.

The Galaxy Group would invest in the Galaxy Plaza Tower at Times Square. Arthur planned to use California Pacific Investment Company's funds to acquire the Ritz-Carlton.

Jim Colt was to stay in New York to handle the new Galaxy Plaza project, which would be a comprehensive building with a mall, cinema, offices, hotel, and apartments.

"Emily, do you think William Johnson will sell the Ritz-Carlton?" Arthur asked.

Emily Shead smiled, "He can't resist the lure of a cash purchase, and the Ritz-Carlton hasn't realized its potential under him. He values the Boston Ritz-Carlton Hotel the most, but I'm afraid he won't agree to $100 million," she added.

"Let's negotiate well. $100 million is my bottom line," Arthur shook his head. "I believe in the revitalization of Times Square. Its value will soar."

Emily Shead nodded, "We'll try to persuade William Johnson. I also know Abigail Johnson from Fidelity Investments in Boston."

"Fidelity will strengthen its cooperation with Ritz-Carlton, providing financial support to build hotels in major cities domestically and internationally," she continued.

Arthur looked at Emily Shead, "Is this Abigail Johnson related to the Johnson family?"

"She's the daughter of Edward Johnson III, the current chairman of Fidelity Investments," Emily replied.

Arthur smiled, "Fidelity is the world's largest public investment fund, managing assets over $240 billion. They have fierce competition with Vanguard."

Fidelity Investments was established earlier, founded by Edward Johnson II in the 1940s. Edward Johnson III took over when his father retired two years ago. The Johnson family owned 49% of Fidelity Investments.

Compared to Vanguard, Fidelity Investments was more of a family business with diverse investments.

Vanguard, established in the 1970s, focused on large funds and public capital, with all investors as shareholders. They managed numerous pension and government funds, primarily investing in large groups and public enterprises.

Arthur was surprised that Emily Shead knew Abigail Johnson from Fidelity, explaining why Jim Colt sent Emily Shead to accompany him to Boston.

As the capital of Massachusetts and the largest city in New England, Boston had a developed economy and culture. It was also one of the oldest and most historic cities in the U.S.

However, Arthur only stayed in Boston for one night before heading to Newport, Rhode Island, in the New England region. Arthur planned to buy a seaside villa in this East Coast vacation spot.

"Arthur, The Pelican Brief is about to start filming. I'm rehearsing now," Winona Ryder, who was with the crew in Louisiana, was called to Rhode Island by Arthur.

Arthur smiled, "Don't worry. Oliver Stone has a lot of experience with political thrillers. Didn't JFK do well last year?"

"Look, this is the mansion I bought for vacations. It was built in the 1930s!"

Winona Ryder walked arm in arm with Arthur into the large villa. The building had over 9,000 square feet of space and backed onto the sea. The property included six acres of land with great views.

"Arthur, the interior decor isn't your style, right? It's a bit worn," Winona Ryder knew Arthur well.

"Yes, I'll have it renovated. Otherwise, I wouldn't come here for vacations," Arthur said, holding Winona Ryder's shoulder. He liked the location. The $4.5 million price was acceptable, but the renovation would probably cost another $2-3 million.

"Weren't you talking about buying a hotel in Boston? Is it settled?" Winona Ryder sat on Arthur's lap.

Arthur kissed her, "Still negotiating. But I've met the hotel group's main owner, so it should be fine."

"Your business is getting more diversified," Winona Ryder was surprised that Arthur planned to invest in luxury hotels.

*****

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