Articles tagged “anbang”

Anbang Spiffs Up Waldorf Astoria to Reopen It in 2021

Anbang Spiffs Up Waldorf Astoria to Reopen It in 2021

Patrick Clark, Bloomberg

As Anbang's financial struggles continue, its best bet remains getting the Waldorf Astoria modernized and open for business. As the renovations drag on, though, one has to wonder if Hilton will simply open a new property in New York City.

2 months ago

Anbang’s Multiple Hotel Investments Are Likely to Be for Sale

Anbang’s Multiple Hotel Investments Are Likely to Be for Sale

Vinicy Chan, Dinesh Nair, and Steven Yang , Bloomberg

Guess it's a good thing Anbang didn't win out over Marriott to acquire Starwood Hotels and Resorts after all.

6 months ago

China’s Biggest Hospitality Dealmakers May Be Sidelined for Good

China’s Biggest Hospitality Dealmakers May Be Sidelined for Good

Daniel Meesak, Jing Travel

Just two years ago, insurance company Anbang surprised the world with its bid to buy Starwood. Now it and other Chinese companies that went on global shopping sprees are stuck with an impossible bill — and a government that doesn't approve of the purchases.

6 months ago

China’s Super Aggressive Sunac Picking Up Troubled Travel Assets

China’s Super Aggressive Sunac Picking Up Troubled Travel Assets

Daniel Meesak, Jing Travel

Sunac's valuation is skyrocketing as it buys up other companies' assets to fuel its own growth. But will its strategy backfire as debt mounts? And what does all the turnover mean for the travel industry in China?

7 months ago

Waldorf Astoria Hotel Will Get Fewer Condos Than Anbang Originally Planned

Waldorf Astoria Hotel Will Get Fewer Condos Than Anbang Originally Planned

Patrick Clark, Bloomberg

Given Anbang's current financial woes and an influx of luxury condos flooding the New York City market, it's probably a good idea to go with fewer condos and more hotel rooms in Anbang's makeover of the iconic Waldorf Astoria.

7 months ago

Blackstone Worries New Law Could End Sale of Hotel Stakes to Chinese Investors

Blackstone Worries New Law Could End Sale of Hotel Stakes to Chinese Investors

Melissa Mittelman, Bloomberg

While Chinese investment money has been drying up because of Chinese government policies, there has been scant attention paid on the flip side to the U.S. Congress trying to increase regulatory scrutiny over foreign investment. The double-edged sword doesn't bode well for U.S. companies looking for Chinese and other foreign buyers.

8 months ago

Hilton Claims Anbang Financial Woes Won’t Impact Management of Waldorf Astoria

Hilton Claims Anbang Financial Woes Won’t Impact Management of Waldorf Astoria

David M. Levitt and Patrick Clark, Bloomberg

While Hilton has emphasized that Anbang's financial woes won't impact its long-term management contract at the original Waldorf Astoria hotel in New York, we can only imagine the sighs of relief Starwood employees must be issuing, knowing Anbang could have been their new owner instead of Marriott.

8 months ago

Chinese Merger Money in Travel Will Likely Dry Up

Chinese Merger Money in Travel Will Likely Dry Up

Brooke Sutherland, Bloomberg

Conventional wisdom in the last few years had Chinese investors from Anbang to HNA poised to scoop up and consolidate U.S. travel companies, meaning Google, Booking, Expedia and TripAdvisor weren't the only games in town. That prospect has faded, if not disappeared, although strategic buyers in China may still make some noise.

8 months ago

China Takes Control of New York Waldorf Astoria Owner Anbang

China Takes Control of New York Waldorf Astoria Owner Anbang

Bloomberg

The Chinese government is trying to contain the economic fallout from Anbang's over-reaching. From a long-term perspective, Starwood dodged a bullet when it ended up in Marriott's arms instead of the opaque Chinese insurance conglomerate.

8 months ago

Hilton’s CEO Says New York’s Waldorf Astoria Is Not for Sale

Hilton’s CEO Says New York’s Waldorf Astoria Is Not for Sale

Patrick Clark, Bloomberg

Sure, it's not for sale. But wouldn't things be easier for everyone if it was?

8 months ago

Blackstone Has Its Eye on Hotel Assets It Sold to Anbang

Blackstone Has Its Eye on Hotel Assets It Sold to Anbang

Bloomberg

Blackstone has its eyes on the assets it sold, and knows it can now get them at a fraction of the cost if it wants them. Not a bad position to be in.

8 months ago

Anbang and HNA Could Become Sellers of Hotel Assets

Anbang and HNA Could Become Sellers of Hotel Assets

Bloomberg News, Bloomberg

Over the last couple of years HNA, Anbang and others have amassed overseas assets worth billions of dollars. But with the Chinese government now restricting capital outflow it looks like these buyers will now become sellers.

9 months ago