Ken Griffin operating trading room at the Four Seasons Palm Beach during hotel closure

Hotels in Palm Beach County were ordered to close earlier this week

TRD MIAMI /
Apr.April 02, 2020 05:45 PM
Ken Griffin and the Four Seasons Resort Palm Beach

Ken Griffin and the Four Seasons Resort Palm Beach (Credit: Larry Busacca/Getty Images)

UPDATED, April 2, 7:30 p.m.: Billionaire hedge funder Ken Griffin set up a trading room for his Citadel Securities at the Four Seasons Resort Palm Beach, prior to the county’s order closing all hotels in Palm Beach County.

Griffin flew in traders and staff from his New York and Chicago offices to work out of the temporary trading floor, as first reported by Bloomberg, days after Florida Gov. Ron DeSantis ordered that all New Yorkers self-quarantine for a period of two weeks after arriving in the Sunshine State. A statewide stay-at-home order went into effect in Florida this week. The traders will also sleep at the hotel, Bloomberg reported.

Griffin was DeSantis’ top donor in his race for governor nearly two years ago. Griffin, a Daytona Beach native who has spent roughly $350 million on properties in Palm Beach, gave nearly $6 million to a political committee backing DeSantis, the Miami Herald reported.

Hotels in Palm Beach County closed as of midnight on Monday. The exception is for essential guests, who include healthcare workers, National Guard members and other critical guests. The Four Seasons is not accepting reservations until June, according to the Herald.

Citadel said that it’s trading volume has increased significantly during the coronavirus crisis, prompting it to open temporary offices in Palm Beach and Greenwich, Connecticut. [Miami Herald]Katherine Kallergis

This story has been updated to reflect that Citadel said it reserved the hotel prior to Palm Beach County ordering the closure of hotels. 


Related Articles

arrow_forward_ios
Lexington Ave. on May 03, 2020 (Credit: Roy Rochlin/Getty Images)

NYC sees second week with no mid-market deals since onset of pandemic

NYC sees second week with no mid-market deals since onset of pandemic
Inside South Florida’s mall, retail and restaurant reopenings

Inside South Florida’s mall, retail and restaurant reopenings

Inside South Florida’s mall, retail and restaurant reopenings
(Illustration by Daniel Castro Maia)

Not your father’s distress: Down market could be opportunity of a lifetime or a big letdown

Not your father’s distress: Down market could be opportunity of a lifetime or a big letdown
A judge allowed Le Pain Quotidien to be released from 59 of its leases. (Getty, iStock)

Le Pain Quotidien freed from 59 leases in bankruptcy

Le Pain Quotidien freed from 59 leases in bankruptcy
The Centers for Disease Control released new guidelines for offices as they reopen amid the coronavirus. (Getty)

CDC recommendations would drastically alter offices

CDC recommendations would drastically alter offices
IBM CEO Arvind Krishnam and 88 University Place (Google  Maps, IBM)

IBM to leave WeWork’s 88 University Place

IBM to leave WeWork’s 88 University Place
The Hotel Indigo Lower East Side at 171 Ludlow Street and Rotem Rosen (Credit: Hotel Indigo)

Tallying crisis’ toll on MRR Development’s Hotel Indigo

Tallying crisis’ toll on MRR Development’s Hotel Indigo
Hotel occupancy continued its recovery from the coronavirus, with rates reaching an average of 35% in the U.S. after Memorial Day weekend. (Getty)

Hotel occupancy hovers around 35% after Memorial Day boost

Hotel occupancy hovers around 35% after Memorial Day boost
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...