Bidders jostle for Anbang’s Strategic Hotels portfolio
Ownership of Chinese insurer Ambang’s portfolio of flagship US hotels could soon be changing hands.
According to the Financial Times, the company has received numerous bids of up to $5.8 billion for its Strategic Hotels business.
According to people familiar with the matter, 17 potential buyers are in the running including private equity firm Blackstone, Brookfield, and Singapore’s sovereign wealth fun GIC.
Blackstone sold Strategic Hotels to Anbang in 2013 for $6.5 billion.
Anbang has since been placed under administrative control of the Chinese government after founder Wu Xiaohui was jailed for embezzlement.
The portfolio includes 15 top hotels across the US including several Ritz Carlton and Four Seasons Hotels, JW Marriott Essex House in New York, and Westin San Francisco.
A sale is expected to be announced by the summer.
Other prospective bidders include South Korea’s Mirae asset management and Softbank-owned Fortune.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025