Menu

Chinese group acquires some of the most elegant hotels in America

  • Published by Ozgur Tore

RC Laguna NiguelChina's Anbang Insurance Group is reportedly acquiring some of the most elegant hotels in America including Four Seasons and Ritz Carlton.

Anbang purchased New York's Waldorf Astoria from Hilton Worldwide Holdings Inc in 2014 for $1.95 billion and now the group expands its U.S. hotel portfolio by acquiring Strategic Hotels & Resorts Inc..

Strategic Hotels' properties include the Four Seasons Washington, D.C. on Pennsylvania Avenue, the Westin St. Francis on Union Square in San Francisco, the beach-front Ritz-Carlton Laguna Niguel in Orange County, California, and Manhattan’s JW Marriott Essex House.

Bloomberg reported that Blackstone Group LP agreed to sell Strategic Hotels & Resorts Inc. to China’s Anbang Insurance Group Co. for about $6.5 billion, just three months after it purchased the U.S. luxury-resort company.

Advertisement

Most Read in this category since 01.01.2016

Prev Next

Destinations

Best of Greek Islands with Celestyal Cruises

Best of Greek Islands with Celestyal Cruises

In Summer 2016, I had chance to sail to Greek Islands with the Celestyal Cruises. In an organization with Karavan Cruises, travelers enjoyed best of Greek islands with Celestyal and received a compl...

Unique and Luxurious Vacation Destination in Turkey: Cappadocia

Unique and Luxurious Vacation Destination in Turkey: Cappadocia

ftnNEWS would like to present you a unique vacation idea here in Turkey: Cappadocia Region. Located on the central Anatolia plateau within a volcanic landscape sculpted by erosion to form a successi...

Fascinating Tunisia

Fascinating Tunisia

Recently I have visited Tunisia as a familiarization trip organized by the Tunisia Tourism Ministry with the support of Tunis Air. Tunisia is not only a beach holiday destination. It also offers a r...