Jun
19
Want to Buy a Luxury Hotel in the U.S.? Try China’s Insurance Regulator
ByChinese authorities are listening to offers for the Anbang properties it seized late last week
When Chinese regulators seized control of Anbang Insurance Group Co., they took ownership of more than a dozen luxury U.S. hotels, including New York’s famed Waldorf Astoria.
Now, as the Chinese government weighs selling many of these properties, the buildings likely are worth less than what Anbang paid only a couple of years ago, the latest instance of foreign investors rushing into U.S. property only to find the market softening beneath them.
Want to Buy a Luxury Hotel in the U.S.? Try China’s Insurance Regulator
