Articles tagged “anbang”

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.

50 mins 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.

2 days 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?

1 week 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.

2 weeks 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.

3 weeks ago

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.

4 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.

7 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.

7 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.

7 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.

9 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.

12 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