Aug
19
China’s Anbang Puts a $5.5 Billion Luxury Hotel Portfolio on the Block
ByInsurer’s properties bought from Blackstone in 2016 include Manhattan’s Essex House Hotel
China’s Anbang Insurance Group Co. is looking to unload a luxury hotel collection that it acquired for $5.5 billion two years ago, according to people familiar with the matter, as pressure builds on the company to raise cash following its seizure by the government.
Anbang had been listening to offers to buy individual properties within its hotel portfolio, which includes high-end properties like the Essex House Hotel overlooking Manhattan’s Central Park; the Four Seasons Hotel in Jackson Hole, Wyo.; and the InterContinental…
China’s Anbang Puts a $5.5 Billion Luxury Hotel Portfolio on the Block
