Chinese buyers seems to be very keen on expanding their portfolio to western run hotels and chains. Chinese insurer Anbang tried to purchase Starwood Hotels & Resorts but ended up losing to Marriott in a bidding war.
Blackstone Group that took Hilton Hotels private and later brought it back to stock market sold 25% share of the company to Chinese conglomerate called HNA. Blackstone still owns 21% of Hilton after this transaction is completed. [click to continue…]