Articles tagged “anbang”

Hotel Industry Is Increasingly Impacted by Shifting Political Winds

Hotel Industry Is Increasingly Impacted by Shifting Political Winds

Hui-yong Yu, Bloomberg

For those who think that politics and travel don't mix: think again.

2 months ago

Anbang Ownership and Financing Subject of Complaint by U.S. Hotel Union

Anbang Ownership and Financing Subject of Complaint by U.S. Hotel Union

Josh Eidelson and Caleb Melby, Bloomberg

Anbang came oh-so-close to taking Starwood away from Marriott before the merger yet so much about the Chinese insurance giant remains behind a firewall. We're not sure how much Unite Here's complaint will accomplish but the hotel employees do have a right to know if their next paychecks are in jeopardy.

5 months ago

HNA’s Rezidor Bid Is Being Held Up By Chinese Regulators

HNA’s Rezidor Bid Is Being Held Up By Chinese Regulators

Patrick Whyte, Skift

It looks like tighter restrictions on outbound investment are starting to hinder dealmaking at HNA. Although the Rezidor deal may still go through, you've got to wonder what it means for the rest of 2017 and beyond.

6 months ago

Anbang May Be Forced To Sell Waldorf Astoria Hotel and Other Overseas Assets

Anbang May Be Forced To Sell Waldorf Astoria Hotel and Other Overseas Assets

Bloomberg News, Bloomberg

Anyone want to buy a historic hotel in midtown Manhattan? The Chinese government’s desire to curb foreign investments may have a big impact on the U.S. travel industry and especially hotel companies.

6 months ago

Hotel Union Questions Anbang’s Motives During Contract Negotiations

Hotel Union Questions Anbang’s Motives During Contract Negotiations

Hui-yong Yu, Bloomberg

It was probably for the best that Anbang didn't wind up triumphing over Marriott to buy Starwood, especially given the confusing nature of its ownership structure.

8 months ago

Anbang Closes Iconic Waldorf Astoria in New York for Condo Makeover

Anbang Closes Iconic Waldorf Astoria in New York for Condo Makeover

Verena Dobnik, Associated Press

Traditionalists won't be happy but Anbang could conceivably recoup much of the purchase price for the Waldorf through the condominium conversions. The Plaza Hotel in New York, and others, have already written this condo-hotel playbook.

11 months ago

Citing Security Concerns, U.S. Officials Block Anbang’s Purchase of an Iconic Hotel

Citing Security Concerns, U.S. Officials Block Anbang’s Purchase of an Iconic Hotel

Hui-yong Yu and David McLaughlin, Bloomberg

This isn't exactly the outcome Blackstone or Anbang was hoping for, but the mostly completed Strategic Hotels deal now means Anbang has more U.S. hotel investments to its name, and reaffirms its position as a major player in hotel deals that have yet to emerge.

1 year ago

Anbang’s $6.5 Billion Purchase of Strategic Hotels Is Almost Complete

Anbang’s $6.5 Billion Purchase of Strategic Hotels Is Almost Complete

Hui-yong Yu , Bloomberg

If Anbang wants to make any more last-minute takeover bids for hotel companies worth billions, it needs to make sure it can close on them, which is why finishing the Strategic Hotels purchase is so important.

1 year ago

5 Reasons Why InterContinental Hotels Group Is Ripe for an Acquisition

5 Reasons Why InterContinental Hotels Group Is Ripe for an Acquisition

Deanna Ting, Skift

The idea that being bigger is better in the hospitality industry is one that isn’t going away anytime soon. IHG, whether it might be the target of an acquisition or an acquirer, is in a solid position for both scenarios. And the company could probably use a bit of a jolt in terms of innovation and global growth.

1 year ago

Is China Holding the Marriott-Starwood Deal Hostage?

Is China Holding the Marriott-Starwood Deal Hostage?

Deanna Ting, Skift

In China, anything is possible when it comes to antitrust clearance and there are a number of potential reasons why regulatory authorities there extended their review of the Marriott-Starwood merger. This prolonged waiting game could be part of a larger strategy to extract concessions and finish off part of what Anbang started in March.

1 year ago

Chinese Extend Review of Marriott-Starwood Deal

Chinese Extend Review of Marriott-Starwood Deal

Deanna Ting, Skift

You're probably wondering — as are we — if this delay in Chinese regulatory approval of the Marriott-Starwood deal has something to do with the fact that one of China's largest insurance companies tried to buy Starwood earlier this year in a dramatic bidding war, only to step away at the 11th hour, reportedly because Chinese regulators frowned on the idea. We'll certainly be looking into this more.

1 year ago

Anbang Denies It’s Trying to Buy InterContinental Hotels Group

Anbang Denies It’s Trying to Buy InterContinental Hotels Group

Hui-yong Yu, Bloomberg

It's clear that Anbang wants to buy something. Whether or not it ultimately has the power to turn that desire into reality is another matter entirely.

1 year ago